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Diriyah, a $63 billion giga project in Saudi Arabia, has attracted strong interest from several Indian companies looking to invest. According to Diriyah's CEO, Jerry Inzerillo, prominent business groups such as the Tata Group and the Oberoi Group have already signed agreements to participate in this ambitious development.
A Visionary Development: Diriyah—The City of Earth
Located on the outskirts of Riyadh, Diriyah is being billed as the ‘City of Earth.’ The project is set to house 100,000 residents and offer office spaces for 100,000 professionals. It is envisioned as a luxurious urban hub that will integrate Saudi heritage with modern infrastructure.
This new city will feature over 40 high-end hotels, more than 1,000 retail outlets, and over 150 dining options, including restaurants and cafes. Additionally, it will host a university, multiple museums, arts and cultural centres, an opera house, a 20,000-seat multipurpose event arena, a golf course, and an international equestrian and polo centre, among other world-class amenities.
Strengthening Indo-Saudi Economic Ties
Speaking at the World Economic Forum Annual Meeting 2025 in Davos, Inzerillo emphasised the deepening economic collaboration between India and Saudi Arabia. He highlighted that India ranks among Saudi Arabia’s top trading partners, with bilateral trade reaching approximately $52.8 billion in 2022-23. “With over 3,000 Indian companies already operating in the Kingdom across various sectors such as construction, IT, energy, and telecommunications, the economic partnership between our nations continues to strengthen,” Inzerillo stated.
Vast Investment Opportunities in Diriyah
Inzerillo reiterated Diriyah’s commitment to working with Indian companies, both those already established in Saudi Arabia and those based in India. He underscored the investment potential of the project, which is backed by Saudi Arabia’s Public Investment Fund (PIF). “Diriyah presents countless investment opportunities across multiple asset classes, making it an attractive proposition for businesses looking to expand in the region,” he added.
