Diriyah Company Secures SAR2 Billion Financing for Branded Residences

Diriyah Company has secured a SAR2 billion ($533 million) financing agreement from Arab National Bank (anb) to fund branded residential developments in Diriyah and Wadi Safar, marking the first financial partnership between the two entities. The agreement was signed by Diriyah Company Group Chief Executive Officer Jerry Inzerillo and anb Chief Wholesale Bank Officer Louai Alzaher, as reported by the Saudi Press Agency on August 17, 2026.

Context and Background

This financing will support the expansion of branded residences within Diriyah Company’s two masterplans: the 14 square kilometer Diriyah and the 62 square kilometer Wadi Safar. These developments are part of a broader strategy to deliver world-class residences, hotels, cultural and educational assets, and entertainment and sports facilities, contributing to the Kingdom’s tourism and quality-of-life goals.

Key Details

Diriyah Company’s branded residences portfolio comprises over 300 units, serving as the flagship of its residential strategy to build 18,000 homes for 100,000 residents. Jerry Inzerillo stated, “This new agreement with anb shows once more the confidence of large-scale financial institutions and institutional investors in the long-term success and return on investment that Diriyah offers.” anb Managing Director and Chief Executive Officer Obaid Alrasheed affirmed anb’s commitment to supporting national projects and its pride in contributing to Diriyah’s development, reinforcing anb’s role as a trusted financial partner in the Kingdom’s growth.

Implications and Impact

The deal underscores growing investor confidence in Saudi Arabia’s giga-projects, with Diriyah Company having already awarded over SAR110 billion ($30 billion) in contracts for its SAR236 billion ($63.2 billion) project, with more than 63,000 workers currently on site. This financing will accelerate construction, create jobs, and attract international residents and tourists, further diversifying the economy.

Vision 2030 Alignment

This agreement directly supports Vision 2030’s goals of economic diversification, tourism growth, and improved quality of life. By partnering with Saudi financial institutions, Diriyah Company demonstrates the private sector’s integral role in realizing the Kingdom’s long-term ambitions, positioning Diriyah as a global cultural and residential destination that contributes to a vibrant society and thriving economy.

20 Questions

Q1. What is the value of the financing agreement?

A1. The financing agreement is valued at SAR2 billion, equivalent to $533 million.

Q2. Which bank provided the financing?

A2. Arab National Bank (anb) provided the financing, marking its first financial deal with Diriyah Company.

Q3. Who signed the agreement on behalf of Diriyah Company?

A3. Group Chief Executive Officer Jerry Inzerillo signed the agreement for Diriyah Company.

Q4. Who signed the agreement on behalf of anb?

A4. Chief Wholesale Bank Officer Louai Alzaher signed the agreement for Arab National Bank.

Q5. What will the financing be used for?

A5. The financing will fund the development of branded residences in Diriyah and Wadi Safar.

Q6. What is the size of the Diriyah masterplan?

A6. The Diriyah masterplan covers 14 square kilometers.

Q7. What is the size of the Wadi Safar masterplan?

A7. The Wadi Safar masterplan covers 62 square kilometers.

Q8. How many branded residences are planned?

A8. The portfolio includes over 300 branded residences.

Q9. How many homes does Diriyah Company plan to build in total?

A9. Diriyah Company plans to build 18,000 homes in total across both masterplans.

Q10. How many residents are expected to live there?

A10. The development is expected to accommodate 100,000 residents.

Q11. What types of assets are included in the masterplans?

A11. The masterplans include residences, hotels, cultural and educational assets, and entertainment and sports facilities.

Q12. What did Jerry Inzerillo say about the deal?

A12. He said the agreement shows financial institutions’ confidence in Diriyah’s long-term success and return on investment.

Q13. What was Obaid Alrasheed’s comment?

A13. He highlighted anb’s commitment to supporting national projects and its pride in contributing to Diriyah’s development.

Q14. How much has Diriyah Company awarded in contracts so far?

A14. Diriyah Company has awarded more than $30 billion (SAR110 billion) in major contracts.

Q15. What is the total value of the giga project?

A15. The giga project is valued at $63.2 billion (SAR236 billion).

Q16. How many workers are currently on site?

A16. There are over 63,000 workers on site.

Q17. How does this agreement support Vision 2030?

A17. It supports economic diversification, tourism growth, and quality of life improvements.

Q18. Why is this partnership significant for Diriyah Company?

A18. It is the first financial deal between anb and Diriyah Company, marking a new relationship.

Q19. What is the role of anb in the Kingdom’s development?

A19. anb acts as a trusted financial partner supporting national development initiatives and economic growth.

Q20. What is the expected outcome of the branded residences?

A20. The residences will provide world-class living options, attracting residents and visitors, and contributing to a vibrant community aligned with Vision 2030.

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