Diriyah Company awards $1.5 Billion in Major Contract Awards to BEC Arabia and Almabani

Diriyah Company, Saudi Arabia has announced the launch of 239 premium homes in the new Manazel AlHadawi residential area at Cityscape Global 2025.

Alongside the new residential offering launch, Diriyah Company also announced three major contract awards covering residential, commercial, and infrastructure developments, totaling $1.5 billion (SAR5.7 billion).

BEC Arabia Contracting Company has been awarded the contract for the Media and Innovation District – South Offices. This project, located within the Media and Innovation District, will deliver state-of-the-art office spaces to support global media networks and creative agencies. Also, within the Media and Innovation District, BEC Arabia Contracting Company has secured the contract for the Manazel AlHadawi plots, which will further expand the district’s residential offering, supporting the growing community of professionals and families.

Additionally, and as a testament to Diriyah’s comprehensive infrastructure progress, Almabani General Contractors has been awarded the King Khalid Road Main Works contract. This critical infrastructure project will enhance connectivity and accessibility, supporting the seamless integration of Diriyah’s districts.

These latest announcements demonstrate the progress of Diriyah Company’s $63.2 billion urban development program in building a new contemporary human-centric place to live, work and play on the outskirts of Riyadh.

Diriyah’s Media and Innovation District was announced at MIPIM in Cannes in March 2025 to serve as a new home for global media networks, creative agencies, and professionals seeking a collaborative ecosystem with state-of-the-art infrastructure, designed to promote sustainability and provide an exceptional quality of life. Diriyah, the $63.2 billion integrated urban development, has now awarded over $27 billion in construction contracts. Once complete, Diriyah will contribute approximately $18.6 billion (SAR70 billion) directly to the Kingdom’s gross domestic product (GDP), create more than 180,000 jobs and will be home to an estimated 100,000 people.

It will also include museums, shopping districts, a university, the Royal Diriyah Opera House, the Diriyah Arena, a variety of food and beverage outlets, and nearly 40 world-class resorts and hotels spanning its two main masterplans. Additionally, Diriyah will include the Royal Golf Club, Wadi Safar, home to a Greg Norman–designed championship golf course and the Royal Equestrian & Polo Club, Wadi Safar.