Diriyah Company, Saudi Arabia announced in a statement that it has signed a record-breaking construction contract to develop the Northern mixed-used district in the north of Diriyah.

The Contract was signed with Saudi’s El Seif Engineering Contracting Co., and China State Construction Engineering Corporation Ltd (CSCEC).

The value of the contract is worth over $2 billion.

The contract is the largest construction contract awarded in the history of Diriyah development so far, said the company, noting that construction work is scheduled to begin starting from Q3 2024.

The mega mixed-use district, which will come up in the northern part of Diriyah, will be executed by some of the most prominent real-estate developers from Saudi Arabia and around the world, contributing to the realization of the Diriyah Company.

The project will feature the construction of a multi-use area, which includes advanced educational institutions, cultural sites, modern offices, and a luxury hotel, in order to contribute to the completion of the Diriyah development project, which represents a key historical and cultural destination in the Kingdom, and one of the most prominent projects of Vision 2030.