New Delhi/Davos, February 9 – Several Indian companies have expressed significant interest in investing in Saudi Arabia's ambitious $63 billion Diriyah Giga Project, according to Jerry Inzerillo, the CEO of Diriyah Company.
Diriyah, often referred to as the "City of Earth," is being developed on the outskirts of Riyadh, the capital of Saudi Arabia. The mega project aims to accommodate 100,000 residents and provide office spaces for over 100,000 people. The city will feature more than 40 luxury hotels, 1,000 retail outlets, over 150 restaurants and cafes, a university, museums, an opera house, a 20,000-seat multi-purpose event venue, a golf course, and an international equestrian and polo center.
This $63.2 billion real estate and tourism project is designed to restore the historic birthplace of modern Saudi Arabia. It will also include At-Turaif, a UNESCO World Heritage Site, further enhancing its cultural and historical significance.
Speaking to PTI at the World Economic Forum (WEF) Annual Meeting 2025 in Davos, Inzerillo emphasized India's role as one of Saudi Arabia's largest trading partners. He noted that bilateral trade between India and Saudi Arabia reached approximately $52.8 billion in 2022-23, making India a key player in the region’s economic landscape.
Highlighting the deep-rooted economic ties between India and Saudi Arabia, Inzerillo revealed that over 3,000 Indian companies are already operating in the kingdom, spanning sectors such as construction, information technology (IT), energy, and telecommunications. Their contributions have significantly strengthened the economic partnership between the two nations, paving the way for further investments and collaboration in the Diriyah project.
