Diriyah Company has unveiled The Grand Avenue, a 1.9-km-long mixed-use main spine that will anchor its flagship Diriyah mega-development near Riyadh, adding another major component to Saudi Arabia’s fast-expanding urban and tourism pipeline.

Announced during the MIPIM property exhibition in Cannes, the new corridor is designed as a central urban boulevard combining hospitality, retail, office, residential and lifestyle components within the kingdom’s historic Diriyah masterplan.

According to project details released by the developer, The Grand Avenue will feature 85,000 sq m of retail and food-and-beverage gross leasable area, 400,000 sq m of office gross floor area, 2,400 luxury residences, six leading hotels offering 1,300 keys, 12,000 parking spaces, and seven iconic landmarks integrated across the development.

The project is positioned as a high-density mixed-use destination intended to strengthen Diriyah’s role as Saudi Arabia’s premier historical, cultural and lifestyle district, while also expanding its commercial real estate offering in line with Vision 2030 diversification goals.

Diriyah Company, part of Public Investment Fund’s giga-project portfolio, is developing a 14 sq km masterplan with a total investment exceeding SAR236 billion ($63.2 billion). The wider development is planned to include more than 1.6 million sq m of office space, 40 hotels, and over 18,000 residential units upon completion.

The Grand Avenue announcement comes as Diriyah accelerates multiple phases of construction, with recent contract awards covering major hospitality, retail and religious infrastructure assets across the site. -TradeArabia News Service