Diriyah Gate Development Authority plans a new Four Seasons Hotel in Saudi Arabia

Four Seasons Hotel Diriyah, Saudi Arabia will join Four Seasons growing portfolio of properties in the Middle East and will be a short drive from the existing Four Seasons Hotel Riyadh at Kingdom Centre. (Supplied)
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Updated 14 March 2022
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Diriyah Gate Development Authority plans a new Four Seasons Hotel in Saudi Arabia

RIYADH: The developer of one of Saudi Arabia's UNESCO heritage sites, is teaming up with international luxury hotel Four Seasons to build a new hotel at the site located in Riyadh.

Proving that the old can coexist with the new, Diriyah Gate Development Authority said in a statement that the hotel will have 150 rooms and suites, expansive meeting and event spaces, a wellness spa and a fitness center.

The partnership's timing aligns with Saudi Arabia's efforts to invest in non-oil sectors as tourism is expected to contribute 15 percent more to the Kingdom's GDP by 2030, which is predicted to hit $1.86 trillion.

“Four Seasons is working alongside DGDA to elevate what travellers can experience within Diriyah, showcasing their timeless approach to hospitality whilst staying true to Diriyah’s rich cultural past,” said Jerry Inzerillo, Group CEO of Diriyah Gate Development Authority. 

"We are excited to share further developments on this project in the coming months," he added.

The hotel will be located adjacent to Diriyah’s culturally rooted district along the Wadi Hanifah escarpment, with incredible views towards the west and the UNESCO World Heritage Site, At-Turaif. 

Inspired by local tradition, the hotel design will have "a unique aesthetic that is being developed by leading design architects, Aedas and Elastik interior designers," the statement added. 

 


Closing Bell: Saudi main index rises to 10,894

Updated 13 January 2026
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Closing Bell: Saudi main index rises to 10,894

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday. 

The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining. 

The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29. 

The MSCI Tadawul Index edged up 1.71 percent to 1,460.89. 

The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75. 

Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60. 

Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48. 

On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog. 

In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026. 

Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years. 

The three contracts have durations of 10 years, 10 years, and five years, respectively.

“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement. 

Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70. 

Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk. 

In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC. 

In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025. 

The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.