Diriyah signs land lease deal with King Saud University
19 December 2025
Saudi Arabia gigaproject developer, Diriyah Company, has signed a long-term land lease agreement with Riyadh Valley Company, an investment arm of King Saud University.
Diriyah Company will lease 552,000 square metres (sq m) of land from King Saud University for a period of 70 years.
The deal will enable the company to add the land bank to its second phase of the Diriyah Project, which is also known as DG2.
The agreement was signed by Diriyah Company's Group CEO, Jerry Inzerillo, and the acting president of King Saud University and Riyadh Valley Company chairman, Ali Masmali.
Diriyah Company is already developing the area adjacent to King Saud University. In April, it awarded an estimated SR4bn ($1.1bn) contract for a utilities relocation package for the King Saud University project located in the second phase of the Diriyah Gate development (DG2).
The contract was awarded to the joint venture of Beijing-headquartered China Railway Construction Corporation and China Railway Construction Group Central Plain Construction Company.
The scope of the contract covers the design, construction and relocation of KSU's utilities and administration offices, as well as the construction of a district cooling plant, water storage facilities, a sewage treatment plant, a natural gas plant, a diesel transfer pumping station, a utility tunnel, irrigation water storage tanks, office buildings, warehouses and maintenance workshops.
In addition to KSU, DG2 will feature residential developments, hotels, an opera house, the Saudi Museum of Contemporary Art, six academies, an arena and a mosque.
The Diriyah masterplan envisages the city as a cultural and lifestyle tourism destination. Located northwest of Riyadh’s city centre, it will cover 14 square kilometres and combine 300 years of history, culture and heritage with hospitality facilities.
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