A fresh wave of international and regional investment is pouring into Saudi Arabia’s evolving urban landscape, with investors pledging $3 billion to finance a major mixed-use development inside Riyadh’s expansive King Salman Park.
The financing will flow through a Saudi-based investment fund regulated by the Capital Market Authority and managed by Mulkia Investment Company, according to the foundation overseeing the park’s development.
Backed by a blend of global capital and local partners, the funding marks a significant step in advancing one of Riyadh’s most ambitious urban projects.
The planned district will span roughly one million square metres of built-up space, combining residential living, business hubs and hospitality. Plans outline around 3,700 housing units, premium Grade A office spaces, and a 300-room hotel, forming a dense urban enclave designed to integrate work, living and leisure.
A key advantage for the project is its proximity to public transport. The development will sit directly beside the King Salman Park Metro Station, linking the new district to Riyadh’s expanding metro network and improving accessibility across the capital.
Construction responsibilities have been assigned to a consortium that blends regional and international expertise, including Kolaghassi Development Company, Al Othaim Investment, and RXR.
The investment signals growing confidence in Saudi Arabia’s large-scale urban transformation efforts, with Riyadh positioning itself as a magnet for capital, real estate development and global partnerships as new districts rise alongside the city’s infrastructure expansion.
