RIYADH: US-based Parsons Corp. has secured a SR210 million ($56 million) contract from Diriyah Co., backed by Saudi Arabia’s Public Investment Fund, to support infrastructure development in Phase 2 of the Kingdom’s heritage-led giga-project.
Under the five-year agreement, Parsons will oversee the design and delivery of neighborhood parks, open spaces, and more than 55 km of streetscape across Diriyah’s second development phase. The firm will also manage the design and construction supervision of streets, footpaths, civic buildings, and public realm facilities.
The Diriyah project, located on the northwestern outskirts of Riyadh, is one of five giga-projects backed by PIF under the Vision 2030 plan, as the Kingdom seeks to position itself as a global tourism hub by the end of the decade.
Diriyah is expected to contribute approximately SR70 billion annually to the Kingdom’s gross domestic product, create nearly 180,000 jobs, and become home to an estimated 100,000 residents.
Jerry Inzerillo, CEO of Diriyah Co., said: “We are delighted to be working with such a world-class firm as Parsons as we accelerate the development of Diriyah’s $63.2 billion development.”
