Diriyah Company has announced The Grand Avenue, a 1.9-kilometre mixed-use development that will form a central component of the Diriyah giga-project in Riyadh. The project was presented at MIPIM 2026 and is being positioned as a major commercial, residential and lifestyle district.
Development specifications
According to released information, the Grand Avenue will incorporate luxury residences, branded hotels, office space, premium retail units, restaurants, cafés, public walkways, cultural venues and landscaped streetscapes. The development is designed to blend traditional Najdi architectural elements with contemporary urban planning.
The project is being developed within the modern district of Diriyah, which is located minutes from central Riyadh and adjacent to the UNESCO-listed At-Turaif district, the birthplace of the first Saudi state.
Market context
The announcement comes as Saudi Arabia continues implementation of its Vision 2030 economic diversification programme. Riyadh is currently seeing multiple large-scale developments, including the King Abdullah Financial District and New Murabba project.
Diriyah Company has positioned the Grand Avenue as comparable to established urban boulevards in global cities such as Fifth Avenue in New York, the Champs-Élysées in Paris, Bond Street in London, and Via Monte Napoleone in Milan. Such central mixed-use districts typically command higher rental rates and property values than secondary locations.
The development targets several investor categories, including long-term institutional investors, family offices, and international buyers seeking exposure to the Saudi market. As Riyadh attracts corporate headquarters relocations, demand for residential and office space in central locations has increased.
Investment considerations
The project’s location within a government-backed masterplan provides institutional support, though investors face typical risks associated with large-scale developments, including delivery timelines, macroeconomic cycles, and competition from future launches in Riyadh’s expanding property market.
While property markets in established economies face headwinds, Saudi Arabia’s development programme continues to attract regional and international capital. The combination of heritage significance, tourism potential, and residential demand differentiates Diriyah from purely commercial zones.
Delivery timelines and pricing details for the Grand Avenue have not been disclosed. The wider Diriyah project is one of several giga-projects under development in Saudi Arabia as part of the kingdom’s economic transformation strategy.
The development aims to create what Diriyah Company describes as a main social and economic artery within the new district, though the project’s ultimate market performance will depend on execution, demand absorption and broader economic conditions over the coming decade.
