Saudi Arabia’s Crown Prince, Prime Minister and Chairman of the Public Investment Fund (PIF), Mohammad bin Salman bin Abdulaziz, has announced the inclusion of the Diriyah Project as the fifth giga-project of the sovereign wealth fund.
The other four giga-projects are NEOM, Red Sea, Qiddiya and ROSHN.
Diriyah Project aligns with PIF’s strategy to focus on unlocking the capabilities of promising sectors, including tourism and culture, to support Saudi Arabia’s position as a top tourism and cultural destination, PIF said in a statement.
Established by a royal order in 2017, Diriyah Gate Development Authority will continue its regulatory and supervisory role for Diriyah, which includes Turaif district, a UNESCO world heritage site.
The statement said that Giga projects form a crucial part of PIF’s strategy due to their ability to create new economic ecosystems that drive economic growth and diversification in the kingdom.
(Editing by Seban Scaria firstname.lastname@example.org )