PIF’s Diriyah, Apple to boost retail expansion across Saudi Arabia - Mubasher Info

Riyadh – Mubasher: Diriyah Company, owned by the Saudi Public Investment Fund (PIF), teamed up with Apple to launch a retail store in Diriyah.

The City of Earth marks a significant milestone in the retail and lifestyle offering of the Diriyah project, according to a press release.

On its part, Apple unveiled plans to introduce several flagship retail locations across Saudi Arabia by 2026, including an iconic store in Diriyah, home to the UNESCO World Heritage site At-Turaif. 

Jerry Inzerillo, Group CEO of Diriyah, commented: “This future partnership enhances Diriyah’s retail landscape and aligns with our vision of fostering a vibrant economy that embraces technology and creativity, while demonstrating our commitment to becoming a global destination.”

Being part of the PIF’s giga-project portfolio, the Diriyah project will be home to over 100,000 residents, providing 170,000 job opportunities. It is set to attract 50 million annual visits and contribute $18.60 billion to the Kingdom’s gross domestic product (GDP) by the end of the decade.

The retail landscape in Diriyah will include more than 1,000 stores and over 566,000 square metres of lifestyle retail space.

Last November, the company rolled out plans to develop two high-profile educational and arts districts on the outskirts of Riyadh within the $63.20 billion Diriyah project,

In July, Diriyah announced a joint venture (JV) Northern District Construction Contract at a value surpassing $2 billion, which was the largest single contract awarded by the Diriyah. 

Source: Mubasher Source: {{details.article.source}}