Hassan Allam JV Wins $719 Million Waldorf Astoria Hotel Contract in Saudi Arabia

en.Wedoany.com Reported - A joint venture between Hassan Allam Construction and UCC Saudi has secured a $719 million contract from Diriyah Company to develop the Waldorf Astoria Hotel, Residences, and a mixed-use superblock within the historic Diriyah Boulevard project in Saudi Arabia.

Diriyah Company, a subsidiary of Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is responsible for developing this mega-project, aiming to establish it as a world-class cultural, lifestyle, and tourism destination. This hotel project is part of a PIF plan to build 40 luxury hotels across two of its major developments: the 14-square-kilometer Diriyah project and the 62-square-kilometer Wadi Safar project, the latter positioned as a high-end destination integrating lifestyle, culture, and entertainment.

Hassan Allam Holding stated that the project, with a total built-up area of 241,000 square meters, will include a 200-room Waldorf Astoria hotel, 47 branded residences, commercial and office buildings, an integrated super basement, and a public space.

A spokesperson for Hassan Allam Holding said that through its ongoing partnership with Diriyah Company, the firm is committed to delivering iconic developments that contribute to Saudi Arabia's transformation plans. With 90 years of operations in the Middle East and North Africa region, the spokesperson added, the company will continue to shape iconic destinations.

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