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Diriyah Company has secured SR2bn ($533m) in financing from Arab National Bank (anb) to support the development of branded residences across its Diriyah and Wadi Safar masterplans in Saudi Arabia.
The agreement is the first financing deal between the two institutions.
It was signed by Jerry Inzerillo, Group CEO of Diriyah Company, and Louai Alzaher, Chief Wholesale Bank Officer at anb.
For a giga-project of this scale, the deal is notable not just for its size but for what it signals: that institutional capital is now flowing into Diriyah's residential pipeline with enough confidence to commit at the branded residence tier.
What the Financing Supports
The funds will support Diriyah Company's ongoing development of more than 300 branded residences, which form the flagship tier of a wider residential strategy targeting 18,000 homes for 100,000 residents across the two masterplans.
The residential projects sit within a broader asset mix that spans hotels, cultural and educational facilities, entertainment venues and sports infrastructure.
- Branded residences portfolio: more than 300 residences across Diriyah and Wadi Safar
- Wider residential target: 18,000 homes for 100,000 residents
- Diriyah masterplan area: 14 sq km
- Wadi Safar masterplan area: 62 sq km
- Asset mix: residences, hotels, cultural and educational assets, entertainment and sports facilities
Also Read: Saudi Arabia, Kuwait Drive GCC Islamic Banking Growth
The Scale Behind the Numbers
The Diriyah giga-project carries an overall development value of SR236bn ($63.2bn).
More than SR110bn ($30bn) in major contracts has already been awarded across the wider development, with more than 63,000 workers currently on site.
Those figures place Diriyah among the most actively constructed large-scale projects anywhere in the world right now and the latest financing agreement adds to the capital stack supporting residential and wider asset pipeline delivery as that construction accelerates.
Obaid Alrasheed, Managing Director and CEO at anb, highlighted the bank's commitment to supporting national projects and affirmed the institution's backing for initiatives contributing to Diriyah's continued development and Saudi Arabia's broader economic growth agenda.
The deal marks the first time anb and Diriyah Company have formalised a financing relationship, a milestone that points to deepening engagement between the Kingdom's financial institutions and its mega-project development companies as delivery timelines tighten.
Also Read: RCRC Completes 456 Sq Km Master Plan for Northeast Riyadh
Why Branded Residences Are Leading the Residential Push
Inzerillo described the 300-plus branded residences portfolio as the flagship of Diriyah Company's larger residential strategy.
Branded residences homes sold under internationally recognised hospitality or luxury brand names command significant price premiums over comparable unbranded product.
They also attract a global investor and buyer base that standard residential product cannot reach, which matters for a masterplan that is positioning itself as a world-class cultural and lifestyle destination rather than a domestic housing development.
For Diriyah Company, anchoring its residential programme with a strong branded offering is both a commercial decision and a positioning one.
It sets a price ceiling for the wider residential market within the masterplan, supports the hospitality ecosystem being built across the site and creates a pipeline of internationally attractive product that can be marketed to buyers well before physical completion.
The $533m from anb gives the company the capital to advance that portfolio at pace while broader site infrastructure continues to scale around it.
With 63,000 workers already active and $30bn in contracts awarded, the delivery machine is running.
The residential programme now has the financing to keep up with it.
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