The King Salman Park Foundation successfully secured over $3.8 billion in new private-sector commitments during the MIPIM 2026 conference. This massive capital injection includes a landmark $3 billion fund backed by international investors to develop a premier district. Consequently, the total committed investment for this 17.2-square-kilometer urban regeneration project now exceeds a staggering $5.3 billion across five packages.
Global Consortiums Drive Urban Excellence
A consortium led by Kolaghassi Development Co. will spearhead Package 5, delivering a residential district exceeding one million square meters. This specific development provides approximately 3,700 residential units, a K–12 school, 300 hospitality keys, and 100,000 square meters of office space. Furthermore, Al Othaim Investment and New York-based RXR join this venture to integrate global expertise with local real estate mastery.
“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” stated George Tanasijevich, CEO of King Salman Park Foundation.
The project remains a cornerstone of Saudi Vision 2030, aiming to improve quality of life while planting over one million trees. Therefore, Riyadh will soon host the world’s largest city park, featuring extensive leisure facilities and vast green spaces for all residents.
Expanding the Cultural Landscape
In a separate move, the Foundation awarded Package 4 to a consortium led by Retal Urban Development Co. and SAB Invest. This project holds a total value exceeding $850 million and will feature 600 residential units and 140 luxury hotel keys. Moreover, the district will offer 50,000 square meters of Grade A office space alongside curated retail and dining experiences.
“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations,” remarked Abdullah Al-Braikan, CEO of Retal Urban Development Co.
Ali Al-Mansour, CEO of SAB Invest, noted that the fund structure brings together long-term capital and experienced partners for place-making excellence. Finally, these investments contribute directly to Riyadh’s cultural vibrancy and the Kingdom’s ambitious quality-of-life goals under the Vision 2030 framework.
