Riyadh Unveils $1 Billion Property Development in King Salman Park

Major Investment in Riyadh's Urban Landscape

Riyadh, Saudi Arabia, has announced the launch of a new $1 billion property development situated within the expansive King Salman Park. The mixed-use project, unveiled at Cityscape Global 2025, signifies a significant step in the Kingdom's ongoing urban transformation and economic diversification efforts under Saudi Vision 2030.

Project Scope and Partnerships

The development is a strategic collaboration between the King Salman Park Foundation (KSPF), Adjan Real Estate, and Sedco Capital. Under this partnership, KSPF will provide the land, while Adjan and Sedco Capital will contribute the necessary equity for the development. The project is designed to create a vibrant, integrated neighborhood within the park, featuring a diverse range of facilities:

• Approximately 600 residential units
• Around 45,000 square meters of office space
• A hotel with 200 keys

Additionally, the development will incorporate various amenities such as supermarkets, restaurants, clinics, and retail outlets to support the lifestyle of its residents and visitors.

Integration with King Salman Park's Vision

This new $1 billion development is an integral part of the larger King Salman Park megaproject, one of Riyadh's four major initiatives launched in 2019 by King Salman bin Abdulaziz Al Saud. King Salman Park aims to become the largest urban park in the world, spanning over 16 square kilometers. The overarching vision for King Salman Park includes enhancing the quality of life in Riyadh by providing extensive green spaces, cultural attractions, sports facilities, and diverse recreational options for residents and visitors. The park's master plan also includes a Royal Arts Complex, a Visitor Pavilion, and a 7.2-kilometer pedestrian loop.

Economic Impact and Vision 2030 Alignment

The investment model for this project, where KSPF provides land and private entities contribute capital, is designed to attract institutional investors and top-tier developers, fostering public-private partnerships. This initiative aligns directly with Saudi Vision 2030, which seeks to diversify the Kingdom's economy away from oil, improve urban infrastructure, and elevate Riyadh's global standing as a vibrant and attractive city. The project is expected to contribute to the city's growth and support the Kingdom's goals for a healthy and sustainable society.