Saudi Arabia’s ambitious Diriyah gigaproject, a cornerstone of the kingdom’s Vision 2030 strategy to diversify its economy and establish itself as a global tourism and cultural hub, is now eyeing a potential role in the reconstruction of historic sites in Syria. Jerry Inzerillo, CEO of Diriyah Gate Company, revealed during the Future Investment Initiative (FII) summit in Riyadh that discussions with Syrian officials have taken place regarding this collaboration. ‘Someone is going to rebuild Damascus and Aleppo at some point, and Beirut as well,’ Inzerillo stated, emphasizing that while the company is currently occupied with its primary project, it may consider contributing to Syria’s reconstruction in the future. The ongoing conflict in Syria has devastated many of its ancient cities and archaeological treasures, including the ancient city of Aleppo and the Roman temple sites at Palmyra, prompting international calls for restoration efforts. Challenges such as funding, security, and political coordination remain significant hurdles. Meanwhile, the Diriyah project, which includes luxury hotels, museums, and residential units centered around the UNESCO-listed At-Turaif district, is progressing on schedule and within budget. The company is also exploring opportunities to develop six additional cultural heritage sites in Saudi Arabia and plans to pursue an initial public offering on the Saudi exchange after 2030, anticipating billions in foreign private investment.
