Diriyah, March 12, 2025 – Diriyah Company has officially unveiled the launch of its groundbreaking Media and Innovation District at MIPIM 2025 in Cannes, marking a significant milestone in the development of the Kingdom's ambitious Diriyah project. This innovative district is poised to redefine the future of the technology, media, and communications sectors, positioning Diriyah as a dynamic new hub where creativity, collaboration, and technological advancement can flourish. The district will serve as a global epicenter for industry leaders, offering a state-of-the-art ecosystem designed to foster collaboration and innovation across multiple fields.
Spanning more than 250,000 square meters of office gross floor area (GFA), the Media and Innovation District is set to become home to global media networks, creative agencies, and professionals from around the world. Its cutting-edge infrastructure will promote sustainability while providing an exceptional quality of life for those working and living within the district. In addition to approximately 450 residential homes, the development will feature over 15,000 square meters of retail space and a variety of dining options, ensuring that the district offers a comprehensive lifestyle experience.
One of the district’s key highlights is the 325-room luxury 1 Hotel Diriyah, the first property in the Middle East from the globally renowned 1 Hotels brand. Designed using sustainable and locally sourced materials, the hotel will set a new standard for luxury accommodations in the region. The district’s strategic location near the planned 20,000-seat Diriyah Arena further enhances its appeal, positioning it as a central part of Diriyah’s second-phase urban master plan.
The Media and Innovation District is envisioned as a vital destination for global tech giants, innovation hubs, and creative industries. Its purpose is to inspire creativity, support content creation, and drive digital transformation and technological advancements. The district has already generated significant interest from both regional and international investors, as well as major broadcasting companies. This early enthusiasm highlights the district’s potential to become a global leader in media and technology sectors.
At MIPIM 2025, another exciting announcement from Diriyah Company was the unveiling of Armani Residences Diriyah, a collection of 15 exclusive residences designed by iconic Italian fashion designer Giorgio Armani. These limited-edition homes feature bespoke interiors curated by Armani himself, further elevating Diriyah’s reputation as a luxury destination. In addition, Diriyah Company showcased its extensive commercial office leasing and investment opportunities within the broader Diriyah master plan, which is valued at an impressive $63.2 billion (SAR 236 billion).
Jerry Inzerillo, Group CEO of Diriyah Company, emphasized the transformative potential of the Media and Innovation District, stating, "The Media and Innovation District will position Diriyah as a global hub for media production, technological innovation, and creative industries. By leveraging its rich heritage and forward-looking vision, we are cultivating a world-class ecosystem for the brightest minds in these fields." He continued, "We anticipate a positive response from global industry leaders eager to benefit from world-class, high-tech facilities in an environment that fosters groundbreaking ideas, technological breakthroughs, and creative content."
Sustainability is a key focus in the design and construction of the district. The office buildings are being developed with leading sustainability standards, ensuring that each phase—from planning and design to operation—incorporates state-of-the-art technologies and features expansive, light-filled workspaces.
In addition to the Media and Innovation District, Diriyah Company presented a comprehensive overview of the broader Diriyah master plan, which encompasses a range of mixed-use developments. The master plan includes 1.6 million square meters of office GFA, 566,000 square meters of retail GFA, more than 40 hotels, and over 18,000 luxury residences. These homes are designed with a modern interpretation of Najdi architecture, reflecting the Kingdom’s rich cultural heritage. The plan also includes cultural, entertainment, healthcare, and sports facilities, which will contribute to Diriyah’s development as a world-class destination.
Developed on the outskirts of Riyadh, Diriyah is one of Saudi Arabia’s most ambitious giga-projects, supported by the Public Investment Fund, the world’s fifth-largest sovereign wealth fund. Once completed, Diriyah is expected to house over 100,000 residents, create approximately 178,000 jobs, attract 50 million annual visitors, and contribute an estimated $18.6 billion to Saudi Arabia's GDP. The project’s transformative impact will play a central role in the Kingdom’s Vision 2030 goals of economic diversification, innovation, and sustainable urban development.
With its unparalleled combination of luxury, innovation, and sustainability, Diriyah is poised to become a premier global hub for media, technology, and culture, setting new standards in urban development for the region and the world.