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Diriyah pens MoU with SRMG to boost media collaboration, fosters global presence

Diriyah pens MoU with SRMG to boost media collaboration, fosters global presence
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Riyadh - Mubasher: Diriyah Company, owned by the Public Investment Fund (PIF), has signed a strategic memorandum of understanding (MoU) with the Saudi Research and Media Group (SRMG).

The agreement aims to expand media collaboration and support projects that reach audiences both within the Kingdom and across international markets, according to a press release.

The collaboration will focus on corporate and media communications, events, exhibitions, conferences, visits, data and expertise exchange, and joint training programs. This is in addition to enhancing content on SRMG platforms, international media’s visits to Diriyah, and opportunities for exhibitions and cultural activities.

SRMG will use its media ecosystem and cultural partnerships to deliver impactful content.

The partnership is part of Diriyah’s broader strategy to support cultural and economic development under Saudi Vision 2030. It also reinforces plans for the Media and Innovation District, a 250,000-square-meter hub featuring offices, commercial spaces, residential units, and a luxury hotel.

Jerry Inzerillo, CEO of Diriyah, said: “It [MoU] aligns with our vision to be active enablers in these industries through the Media and Innovation District, currently under development within the Diriyah project, which will become a vibrant hub for media and technological creativity in the region.”

In the same context, Jomana Al Rashid, CEO of SRMG, stated: “Through this agreement, we will support Diriyah’s vision with our integrated media solutions, combining broad reach, digital capabilities, and advanced editorial insight, to deliver high-quality content that deeply and effectively engages both local and international audiences.”

In January 2025, Diriyah awarded a $113.60 million (SAR 426.30 million) architecture and design contract to Omrania, part of the Egis group.

During the first six months (6M) of 2025, SRMG registered net profits worth SAR 21.19 million, an annual plunge of 87.40% from SAR 168.28 million.