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Indian companies are rapidly trying to invest in Saudi Arabia’s $ 63 billion Diriah Giga project.
Saudi Arabia’s ambitious Diriah Project, near Riyadh, is attracting Indian firms in the $ 63.2 billion mega development, regions. (Image: x)
Its CEO Jerry Injillo said that many Indian firms have shown deep interest in investing in Diriah, which is 63 billion Saudi Arabia Giga project, while some big names like Tatas and Oberois have already signed up.
Diriah, being bills being done as the city of Earth, is being built on the outskirts of Riyadh, the capital of Saudi Arabia and will have houses for 100,000 people and will have an office space for another 100,000 plus.
More than 40 luxury hotels, more than 1,000 shops, more than 150 restaurants and cafes, a university, art and cultural property, museum, an opera house, a 20,000-seater multi-purpose phenomenon arena, a golf course and one international in this new city Equestrians will include and polo centers, among other facilities.
The USD 63.2 billion Real Estate Development and Tourism Project aims to restore the historical birthplace of the modern Saudi state and includes the AT-Turif’s UNESCO World Heritage Site in the site.
“In Diriah, we are willing to increase India’s influence as one of Saudi Arabia’s largest trading partners, ranking between top in bilateral trade, about 52.8 billion USD trade in 2022-23 With volume, “Inzilo told PTI.
The World Economic Forum was in Davos for the annual meeting 2025.
INZERILLO said that more than 3,000 Indian companies are already working in the state, contributing to areas such as construction, IT, energy and telecommunications, strengthening the economic partnership between the two countries.
“Diriyah is already very keen to work with firms and is located in India. It is a USD 63.2 billion project supported by the Public Investment Fund and means that investment opportunities in Diriyah are countless and covering many asset classes, “he said.
“The scope of Indian investment community and partners is very large. Diriah already has several partners on boards around the world, but remains a wonderful array of opportunities for Indian companies and organizations for full spectrum of urban development, which is to partner with Diriyah.
He said that India is an important part of his global investment outreach strategy and has hosted CEOs and founders of major companies in India to perform Diriyah and Saudi Arabia.
“There is already a lot of interest from Indian companies – especially the Taj Hotel Group with the hotel sector set to open its 250th property in Diriya with 202 rooms.
He said, “An Oberoi hotel is being developed close to our new Equestrian and Polo Center and these two qualities are among the more than 40 luxury hotels that are being built in Diriah,” he said.
INZERILLO said that India’s companies and investors can also benefit from many new investment packages to suit various sizes and asset classes, including mixed-utilization, residential, hospitality, office, education and healthcare assets.
“Given the size and economic impact, India is in the state – we believe that Indian firms will have an important part to play in the continuous success of the Earth’s city,” he said.
He said that Diriyah will also have a major role in helping Saudi Arabia to show Saudi Arabia in the most beautiful light for tourists from India and other countries.
“Our two biggest attractions-ET-Turifies and neighboring Buzeri Terrace have been depicted in the UNESCO World Heritage Site-Betriya and have welcomed more than three million trips since opening two years ago.
He said, “Their visit in the state for Indian tourists and others will usually start in Diriah and we are confident that Indian visitors will play a major role in our anticipated 50 million trips over 2030 to one year,” Said.
He said, “As the tourism sector of the state grows, the Indian market will increase and the most recent Saudi tourism figures suggest that there were 1.5 million visitors last year, an increase of 50 percent,” he said.
Referring to India’s second largest trading partner in Saudi Arabia and being the fourth largest trading partner of Saudi Arabia, he said that Diriyah will play an important role in expanding trade relations between the two countries.
He said, “The Earth’s city eventually is going to contribute USD 18.6 billion to the Saudi GDP and produces 178,000 jobs,” he said.
He said, “Diriyah is already working with many Indian firms, and there are plans to welcome millions of tourists from India along with promoting investment opportunities for Indian companies.”
Engagelo was also praised for more than 200 employees of India in Diriyah in various fields of engineering, design and finance.
On their busyness with Indian companies, Inzilo said, “We are hosting in the Diriyah groups of Indian business people, mostly CEOs. They are coming to see what are the opportunities in the state. There are groups of 20–50 Indian CEOs that have come to detect possible opportunities. ,
(This story has not been edited by News18 employees and a syndicated news agency has been published from feed – PTI,
- Place :
Riyadh, Saudi Arabia
