Diriyah’s Luxury Residential Units Sales Exceed $4.27 Billion

The sales of luxury residential units linked to global brands by Diriyah Holding Company (DHC) in Saudi Arabia have exceeded $4.27 billion to date, amid growing demand for this type of real estate, according to the company’s CEO Jerry Inzerillo.

Speaking to Arabic daily Al-Eqtisadiah on the side lines of the Future Hospitality Summit 2025 in Riyadh early this week, he said that the demand for luxury residential units reflect people’s desire to combine premium housing with high-end hotel services.

“All units offered so far have been sold out, reflecting the market’s confidence in our projects and brands,” he explained.

DHC continued to make tangible progress in the hospitality sector, currently operating 42 hotels with approximately 6,000 rooms. The opening of the Bab Samhan Hotel, the company’s first hotel within the Marriott Luxury Collection chain, and that the hotel’s occupancy rate reached 91% this month, he said.

Saudi Arabia is rapidly expanding its hospitality sector, with plans to develop 362,000 new hotel rooms by 2030 as part of ambitious plans to develop the hospitality sector with investments totalling $110 billion.

He pointed out that achieving this high occupancy rate confirmed the quality of the product and the confidence of visitors, and a prime example was Bab Samhan Hotel. It boasts a unique architectural design and houses the Michelin-starred Michael Mina restaurant, making it an attractive destination in the heart of Diriyah.

Regarding the Wadi Safar project, Inzerillo said that work has been completed on the 27-hole golf course, designed by world golf champion Greg Norman, and that the new Royal Golf Club is expected to be completed by the end of this year.

He also said that work was continuing on a number of international hotels, most notably the Aman Hotel, which he described as “one of the best Aman projects in the world,” along with the Oberoi, Fayna, Chedi, and Six Senses hotels.

He emphasised that these projects will contribute to consolidating Diriyah’s position as a global destination in the tourism and hospitality sectors.

Unprecedented Growth

Saudi Arabia’s infrastructure, real estate, tourism, and hospitality sectors are experiencing rapid and unprecedented growth, in line with the goals of Vision 2030, reinforcing its position as a leading global destination for travel and tourism.

This strategic expansion is reshaping the industry by setting new standards and providing extensive investment opportunities, enabling investors to play a pivotal role in supporting the Kingdom’s sustainable economic transformation, according to industry experts, the report said.

It may be recalled that Saudi Arabia’s Tourism Minister Ahmed Al-Khateeb, who spoke at the Saudi-US Investment Forum 2025, said that Saudi Arabia has become one of the top 10 most-visited countries in the world, indicating that tourism will become as important as oil to the Saudi economy by 2030.

“The tourism sector accounts for 10% of the global economy and currently represents 5% of the Saudi economy, up from 3% in 2019. The target is to reach 10% by 2030,” he averred.

Inzerillo also emphasised that all these efforts were part of supporting the goals of Saudi Vision 2030, which seeks to diversify the economy and enhance the tourism sector as a key driver of growth.