Egyptian tycoon Hassan Allam’s group expands Saudi portfolio with Waldorf Astoria Diriyah project

Hassan Allam Holding, a privately owned engineering and construction giant led by Egyptian businessman Hassan Allam, has strengthened its presence in Saudi Arabia after its Saudi construction subsidiary, in a joint venture with UCC Holding’s Saudi arm, secured a major contract from Diriyah Company to deliver the Waldorf Astoria Hotel, Residences & Mixed-Use Super Block project in Riyadh.

The development sits within the Boulevard district of the wider Diriyah masterplan in Riyadh, a flagship regeneration project built around the UNESCO-listed At-Turaif heritage site.

Hassan Allam’s mixed-use luxury development in Diriyah

The project will span approximately 241,000 square metres of built-up area and includes a 200-key Waldorf Astoria hotel, 47 branded residences, commercial and office spaces, an integrated super basement, and supporting public realm infrastructure.

The development further expands Diriyah’s positioning as a high-end cultural, tourism, and lifestyle hub anchored around one of Saudi Arabia’s most significant heritage destinations.

Hassan Allam: Strengthening construction pipeline in Saudi Arabia

The award adds to a growing portfolio of Saudi projects for Hassan Allam Group. In April 2026, a joint venture between Hassan Allam Holding and AlBawani Holding secured a SAR1.84 billion ($490.67 million) contract to build the Saudi Arabia Museum of Contemporary Art (SAMoCA).

Saudi Arabia Museum of Contemporary Art is part of the Kingdom’s broader push to expand its cultural infrastructure and strengthen its global arts profile.

Hassan Allam: Expanding regional footprint in giga-projects

Hassan Allam Holding, led by Hassan and his brother Amr Allam, has cemented its position as a privately owned engineering and construction giant in the region, with a portfolio that spans over 12 million square meters of constructed buildings, contributing to economic growth across North Africa and the Middle East.

The latest award reinforces the group’s role in Saudi Arabia’s fast-growing giga-project ecosystem, where international and regional contractors are competing for large-scale mixed-use and cultural developments tied to the Kingdom’s Vision 2030 diversification agenda.

With projects spanning hospitality, cultural infrastructure, and urban development, the company continues to deepen its exposure to the Gulf’s expanding construction and real estate pipeline.