Investment leader Choucair explained that the famous statement by Jerry Inzerillo that there is only one Diriyah was not merely a marketing slogan, but a precise description of a rare investment asset.
He noted that the project has gone beyond being urban development to become a model for repricing assets across the entire region.
Diriyah, From a Real Estate Project to a New Economic Equation
Choucair noted that traditional project valuation relies on location, return, and market cycle, but in Diriyah the equation changed to be built on a unique mix of global heritage, particularly the UNESCO-listed Al-Turaif district, tourism liquidity, government support within Vision 2030, and national identity.
He added that these elements combined created an investment model resembling the Guggenheim Bilbao effect but in a broader sovereign version.
Figures That Redraw the Investment Scene
Choucair affirmed that the project is grounded in strong data, most prominently an investment volume approaching $64 billion, an area extending approximately 14 square kilometers, and sales surpassing 17 billion riyals (approximately $4.5 billion) before project completion.
He noted that these indicators reflect genuine demand from end users and investors, not merely speculation.
Choucair: The “1+1=3” Investment Equation
Choucair explained that Diriyah represents a rare investment model where value multiplies as a result of combining the asset with the narrative.
He added that combining real estate with tourism, culture, and global branding created what is known as “premium valuation” surpassing traditional assessments.
Liquidity Before Completion, An Indicator of Demand Strength
Choucair noted that achieving massive sales before project completion reflects market confidence and confirms the existence of genuine long-term demand, driven by the project’s appeal as a global destination.
He affirmed that Saudi Arabia’s target of attracting 150 million visitors annually by 2030 makes Diriyah one of the most important growth drivers, explaining that every visitor represents a chain of cash flows across multiple sectors such as hospitality, retail, and entertainment.
Non-Replicable Scarcity, The Essence of the Investment Opportunity
Choucair emphasized that the most important distinguishing characteristic of Diriyah is the “Scarcity Premium,” explaining that this asset cannot be replicated anywhere else.
He added that combining history, location, and government support creates an entirely different pricing from any traditional real estate project.
Advanced Investment Angles, How Does the Intelligent Investor Read the Opportunity?
Choucair highlighted that Diriyah opens several investment pathways, most prominently Real Estate 2.0 investing in an integrated economic ecosystem rather than merely a real estate unit, attracting private capital with interest from sovereign funds, private equity, and family offices, a luxury cultural brand with Diriyah transforming into a global brand rivaling cities such as Paris, Florence, and Kyoto, and a smart city economy offering an integrated experience raising visitor spending and average stay duration.
The Risks, A Realistic Reading of the Scene
Choucair noted that the opportunity, despite its strength, is not without challenges, including execution risks linked to the project’s scale, the impact of economic cycles on tourism and real estate sectors, and the timing of investment entry and its effect on returns, affirming that the best returns are usually achieved in early phases.
A Platform for Reshaping the Non-Oil Economy
Choucair concluded his analysis by affirming that Diriyah is not merely a real estate or tourism project, but a sovereign platform for reshaping the Saudi economy. He described it as a “once-in-a-generation asset” redefining investment rules in the region.
He affirmed that the intelligent investor does not focus only on current returns, but on how the asset will be repriced over the coming years, noting that Diriyah represents a clear model for this strategy.