The Radisson Red superblock is located between King Khalid Road and the Grand Boulevard in Diriyah
Register for MEED’s 14-day trial access
Saudi gigaproject developer Diriyah Company has received prequalification statements from firms interested in constructing the upcoming Radisson Red superblock in the second phase of the Diriyah Gate development (DG2).
The prequalification notice was issued on 11 June, and submissions were made on 22 June.
The Radisson Red superblock consists of a hotel, residential apartments, retail facilities, commercial office spaces and a park.
The project is situated in the Boulevard East district, between King Khalid Road and the Grand Boulevard in Diriyah.
The project is the latest in a series of other superblocks that are expected to be floated to the market this year, including the Waldorf Astoria superblock, Edition superblock and Pendry superblock.
Diriyah tendered a contract in April to build the new iconic museum in the DG2 area.
The same month, MEED exclusively reported that the client had awarded an estimated SR4bn ($1.1bn) contract for a utilities relocation package for the King Saud University (KSU) project located in DG2.
The contract was awarded to the joint venture of Beijing-headquartered China Railway Construction Corporation and China Railway Construction Group Central Plain Construction Company.
Also in April, MEED reported that the company had awarded an estimated SR5bn ($1.3bn) construction deal to build the Royal Diriyah Opera House.
The contract was awarded to a joint venture of local firm El-Seif Engineering & Contracting, Beijing-headquartered China State Construction Engineering Corporation and Qatari firm Midmac Contracting.
Tendering activity is also progressing on several other major schemes at Diriyah, including the King Khalid Road project, which passes through the development. The client received bids from firms in the second week of April for the main construction works on this project.
The client is also expected to finalise the contract award shortly for the Arena Block assets in the Boulevard Southwest section in the DG2 area.
Diriyah gigaproject
The Diriyah masterplan envisages the city as a cultural and lifestyle tourism destination. Located northwest of Riyadh’s city centre, it will cover 14 square kilometres and combine 300 years of history, culture and heritage with hospitality facilities.
The company awarded several significant contracts last year, including three contracts worth over SR21bn ($5.5bn). These included an estimated $2bn contract awarded to a joint venture of El-Seif Engineering & Contracting and China State to build the North Cultural District.
In July last year, Diriyah also awarded a $2.1bn package to a joint venture of local contractor Albawani and Qatar’s Urbacon to construct assets in the Wadi Safar district of the gigaproject.
Then in December, Diriyah Company awarded an estimated SR5.8bn ($1.5bn) contract to local firm Nesma & Partners for its Jabal Al-Qurain Avenue cultural district, located in the northern district of the Diriyah Gate project.
Once complete, Diriyah will have the capacity to accommodate 100,000 residents and visitors.
READ THE JULY 2025 MEED BUSINESS REVIEW – click here to view PDF
UAE and Turkiye expand business links; Renewed hope lies on the horizon for trouble-beset Levant region; Gulf real estate momentum continues even as concerns emerge
Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
