Arab Finance: Hassan Allam Holding has signed a SAR 2.7 billion contract for the development of the Waldorf Astoria Hotel, Residences, & Mixed-Use Super Block in Diriyah, Saudi Arabia, according to a press release.
The project was awarded by Diriyah Company to a joint venture (JV) between Hassan Allam Construction Saudi, a subsidiary of Hassan Allam Holding, and UCC Holding Saudi.
The mixed-use development will span approximately 241,000 square meters of built-up area and feature a 200-key Waldorf Astoria Hotel, 47 branded residences, commercial and office buildings, an integrated super basement, and a vibrant public realm.
Commenting on the award, Hassan Allam Holding said: "Through our continued collaboration with Diriyah Company, we remain committed to delivering landmark developments that contribute to the Kingdom's ambitious transformation."
The signing took place in the presence of Hassan Allam, Chairman and CEO of Hassan Allam Holding, alongside Jerry Inzerillo, GCEO of Diriyah, and Samer Ibrahim, CEO of UCC Holding.
Last April, Hassan Allam Holding and Saudi-based contractor AlBawani Holding Company’s JV was awarded a $490 million contract to build the Saudi Arabia Museum of Contemporary Art (SAMoCA).
