Diriyah, Saudi Arabia: 17 August 2026: Diriyah Company has secured a $533 million (SAR 2 billion) financing agreement from Arab National Bank (anb) to fund the development of numerous branded residences in Diriyah and Wadi Safar. The agreement was signed by Mr. Jerry Inzerillo, Group Chief Executive Officer of Diriyah Company, and Mr. Louai A. Alzaher, Chief Wholesale Bank Officer at Arab National Bank (anb).
It is the first financial deal between anb and Diriyah Company and demonstrates the growing confidence of leading financial institutions in the Diriyah project and its world-class residential offering.
The new agreement will support the ongoing development of branded residences in Diriyah, and Wadi Safar. This initiative forms part of Diriyah Company’s continued efforts to deliver assets across its 14 sq km Diriyah and 62 sq km Wadi Safar masterplans, which includes world-class residences, hotels, cultural and educational assets, and entertainment and sports facilities.
Commenting on the new deal, Diriyah Company Group CEO Jerry Inzerillo said: “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. Our 300+ branded residences portfolio is the flagship of our larger residential strategy to build 18,000 homes for 100,000 residents across Diriyah and Wadi Safar in the future.”
Commenting on this occasion, Mr. Obaid Alrasheed - Managing Director and Chief Executive Officer at anb, expressed the anb’s pride to sign this agreement with Diriyah Company, emphasizing that it reflects anb’s commitment to supporting national projects and providing financing solutions that meet the evolving needs and aspirations of its clients. He added that anb’s participation in financing these projects in Diriyah represents an extension of its role in supporting national projects and destinations, contributing to the achievement of Saudi Vision 2030 objectives and promoting sustainable economic development. He further affirmed anb’s pride in supporting projects that contribute to Diriyah’s ongoing development, reinforcing anb’s position as a trusted financial partner in supporting the Kingdom’s development initiatives and economic growth.
Construction is progressing at pace across multiple assets and districts within the 14 square kilometer development area in Diriyah, as well as the neighboring exclusive residential and leisure destination of Wadi Safar. To date, Diriyah Company has awarded more than $30 billion (SAR 110 billion) in major contracts for the $63.2 billion (SAR 236 billion) giga project with over 63,000 workers on site.