Diriyah Company has awarded a $490 million contract to a joint venture between Hassan Allam Construction Saudi L.L.C. and Albawani Company Ltd. to build the Saudi Arabia Museum of Contemporary Art in Diriyah, according to Saudi Press Agency.
The museum, spanning over 77,000 square meters, is a flagship project of the Museums Commission and is designed to position Saudi Arabia as a leading hub for modern and contemporary art. Developed as part of the Kingdom’s $63.2 billion Diriyah transformation, the project contributes to a broader push to integrate culture and tourism into economic growth under Saudi Vision 2030.
With more than $29 billion in contracts already awarded across Diriyah, the development is expected to generate significant economic impact, including job creation and increased tourism flows.
As The Middle East Observer highlights, projects such as SAMoCA underscore Saudi Arabia’s shift toward culture-led economic diversification, positioning large-scale heritage and creative investments as long-term strategic assets within the Kingdom’s evolving growth model.
