Let me explain
Urbacon Saudi Company S.P.C. won a SAR 1.406 billion ($374.8 million) contract for three hotels and one residential asset, and the MAN and MAG joint venture (MAN Enterprise Al Saudia and Al Majal Al Arabi Group) won a SAR 1.324 billion ($353.1 million) contract for hotels and two residential assets. The scope of both contracts covers building facades, blockwork, fit-out, mechanical, electrical and plumbing, and external works. The pedestrianised Diriyah Square precinct, set in a built environment inspired by Najdi architecture, will also host more than 400 retail and lifestyle brands. Diriyah is a SAR 237 billion ($63.2 billion) development northwest of Riyadh city centre covering about 14 km², targeting 50 million visits a year and, according to SPA, 100,000 residents once complete (Diriyah Company and SPA, 5 October 2026; MEED, 6 October 2026).