Diriyah Company has unveiled its newest ultra-luxury community called Wadi Safar, which will be located within the $63 Billion Diriyah Giga project.
Known as the ‘Bel Air’ of Saudi Arabia, The community is due to feature homes priced at a minimum of $25 million Targeting ultra-high net worth buyers, AND they already have a waiting list.
The ‘Bel Air’ of Saudi Arabia
The project, often compared to the ‘Bel Air’ of Saudi Arabia, is set to sell approximately 40 to 50 luxury homes in its Wadi Safar community. Each house is priced at a minimum of 25 million dollars, catering to a select clientele of ultra-high-net-worth individuals.
The Vision of Diriyah
With an estimated population of 15 million by 2030, Riyadh is gearing up to become one of the world’s top ten cities. As part of this vision, Diriyah is being developed as a pedestrian-friendly city akin to Beverly Hills.
However, Wadi Safar, the location of the ultra-luxury homes, is likened to Bel Air, which is famous for its opulence.
“Diriyah is the Beverly Hills. But Wadi Safar is Bel Air – very, very high-net-worth.”
The Wadi Safar Community
Wadi Safar, situated west of Diriyah, is not just about luxury homes. The community will also feature a championship golf course, royal diriyah equestrian, and polo club, adding to the allure of this high-end residential project.
In tribute to the classic Najdi style, this design incorporates signature components such as enclosed patios, towering walls, and panels to temper the natural light.
Mr Inzerillo told reporters at a media event in Diriyah:
“When you look at Riyadh as a city of 15 million people in the context of 2030, Diriyah will be, as a comparison, a pedestrian-friendly cultural heritage [similar to] Beverly Hills in the metropolis of Los Angeles,”
Bashayer Diriyah Event
A sustainable hospitality experience is central to the upcoming Wadi Safar, a gated community in Riyadh. This experience will feature three major resorts: Six Senses, Aman, and Oberoi.
Six Senses Southern Dunes was the inaugural hotel to debut as part of the Red Sea project, which pays tribute to the area’s Nabataean architectural tradition within the retreat of the Hijazi mountain’s desert. The business will now explore further into the heart of the country.
The Luxury Villas
Diriyah Company has also launched 106 Ritz Carlton-branded luxury villas, with prices ranging from 2.4 to 6.9 million dollars. Over 71 residences have already been sold, while the remaining villas are reserved for top government officials and royalty.
The Diriyah Project
The expansive Diriyah project, worth 63.2 billion dollars, is expected to span 14 square kilometers. Once completed in 2030, it will house 42 hotels, over 100 restaurants, nine museums, and 30,000 homes. The project aims to create over 178,000 jobs and attract over 50 million visits annually.
In alignment with this project, Diriyah Company has joined the United Nations World Tourism Organization as an Affiliate Member to help boost global tourism collaboration and advance Saudi Arabia’s tourism sector.
Emerging Silicon Valley
Diriyah is envisioned as the Silicon Valley of Saudi Arabia, hosting 500 technology companies, 100 media firms, and 50 entertainment companies. This influx of businesses will likely create demand for a range of residential options, from studio apartments to two-bedroom houses.
The Housing Strategy
The housing strategy of Diriyah is designed to cater to a wide range of needs. Various housing options will be available, from Saudis and expatriates who will live and work in Diriyah to high-net-worth individuals.
The Future of Diriyah
The future of Diriyah looks promising, with a master plan emphasizing a pedestrian-friendly design. The goal is to create a city where people can walk, cycle, or scooter to work, fostering a sense of community and enhancing the quality of life.
“The Diriyah project is transforming the historic district into a grand tourism hub, offering a unique blend of rich heritage and modern luxury.” – Jerry Inzerillo, CEO, Diriyah Company.
The Impact on the Real Estate Market
The launch of the ultra-luxury homes in Diriyah is likely to have a significant impact on Saudi Arabia’s real estate market. With a 30-year tax break as an incentive for global companies to move their regional headquarters to the kingdom, the demand for luxury residential property is set to rise.
Vision For The Future
The Diriyah project reflects Saudi Arabia’s ambitious vision for the future, blending rich cultural heritage with modern luxury. As the ‘Bel Air’ of Saudi Arabia takes shape, the world watches in anticipation of this transformative development.
Keep Reading: Diriyah Company Launches First Luxury Ritz-Carlton Residences in Riyadh