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Eye of Riyadh
Business & Money | Thursday 8 February, 2024 9:28 am |
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Diriyah Company Concludes its Participation at the 2nd Annual PIF Private Sector Forum

Diriyah Company participated for the second time in the annual Private Investment Fund (PIF)Private Sector Forum, showing the Diriyah project, development progress and the attractive investment opportunities on offer to the private sector.

 

 

 

Held at the King Abdulaziz International Conference Center (KAICC) in Riyadh on February 6th – 7th, the forum attracted a plethora of participants. This diverse group included investors, private sector companies, suppliers, and the government sector. The event highlighted PIF and its portfolio companies, aiming to bolster strategic alliances with the private sector. This initiative is part of a broader effort to propel Saudi Arabia’s economic expansion and progress, aligning with the objectives of Vision 2030.

 

 

 

The initiative provided participants and attendees with the opportunity to engage and connect with peers and colleagues in a series of networking events and collaboration meetings. As part of the PIF giga project portfolio of companies, Diriyah Company showcased the opportunities available to private sector enterprises, emphasizing its function not just as a development project, but also as a destination of global significance, and cultural magnitude.

 

 

 

The second day saw Diriyah Company’s CEO, Jerry Inzerillo, take part in a fire side chat titled ‘Exploring Partnership Opportunities in Diriyah,’ where he discussed the progress Diriyah  has seen so far, including the opening of its first assets of At-Turaif the UNESCO World Heritage Site and Bujairi Terrace, the region’s premier fine dining district, at the end of 2022, Bab Samhan Hotel, the first hotel set to open its doors to guests in 2024, the ground breaking of 7 more of its 41+ hotels, the Royal Diriyah Golf Club and the Royal Diriyah Equestrian and Polo Club. Additionally, he highlighted the announcement of the Royal Diriyah Opera House, the first of Diriyah’s iconic assets to be unveiled. Speaking to the attendees at the Forum, he emphasized the importance of the private sector and the critical role played by Diriyah’s partners in achieving these significant milestones, highlighting the many opportunities available to vendors and suppliers to contribute to the realization of Diriyah as a Vision 2030 project across a range of diverse sectors.

 

 

 

The second day also witnessed Diriyah Development Company (DevCo) signing two strategic agreements with Saudi Constructioneers Ltd. (Saudico) and Al-Ayuni Company. While Saudico won the main contractor award for The Ritz-Carlton Residences, the Kingdom’s first Ritz-Carlton Branded residential offering, Al-Ayuni was named the contractor for a SAR-2-billion infrastructure development project within Diriyah, one of the single largest contracts awarded to date by Diriyah. The partnership agreements were signed by Jerry Inzerillo, Bashir Al Azem, CEO of Saudico, and Waleed Albathi, CEO of Al-Ayuni.

 

 

 

The Private Sector Forum this year was marked by its engagement, with over 100 exhibitors, approximately 20 interactive workshops, and 8 panel discussions, drawing a significant number of participants and offering numerous opportunities for engagement and collaboration. The event is designed to bolster the private sector's contribution to the national economy and enhance localization efforts, aligning with Saudi Arabia’s strategic goals.

 

 

 

-Ends-

 

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