King Saud University, through its investment arm Riyadh Valley Company, has signed a long-term lease agreement with Diriyah Company, as part of supporting long-term developmental and investment partnerships.
The agreement provides for Diriyah Company to lease 552,000 square meters of land from King Saud University for 70 years, enabling the company to develop the area within Phase Two of the Diriyah Project (D2) in alignment with the master plan of the Diriyah Project.
Furthermore, the agreement aims to develop the area as a key component of the project’s master plan, optimizing the university’s assets through a sustainable investment model.
According to the statement, it seeks to advance the knowledge economy by fostering a partnership between a national development entity and the university’s investment arm, while also strengthening the collaboration between academia and major developmental projects. This initiative is designed to support Saudi Vision 2030, driving progress in urban and economic development.
Jerry Inzerillo Group CEO Diriyah Company
“The agreement represents a strategic step in the development of Diriyah and reflects the integration of efforts between development entities and academic institutions to enable sustainable urban projects with long-term economic and knowledge value.”
Saudi Minister of Education and King Saud University board chair Yousef Al-Benyan, emphasized that the agreement reflects the university’s strategic approach to maximizing the impact of its assets, activating long-term, high-quality partnerships with major national projects, enhancing its financial sustainability, reinforcing its role as an active partner in national development, and aligning with the university’s future ambitions on its path toward global excellence.
Meanwhile, Dr. Ali Masmali, King Saud University Acting President and Riyadh Valley Company Chairman, indicated that the agreement represents a qualitative leap in investment, ensures the university’s financial sustainability, maximizes its assets, and achieves ambitious developmental objectives for both parties.
