King Salman Park fund has launched a SAR 3.8 billion ($1 billion) investment to support the comprehensive development of Riyadh’s largest urban park, aiming to transform the capital’s urban landscape with new residential, commercial, and hospitality projects.
Development and funding
The fund partners with Ajdan Real Estate Development and SEDCO Capital to finance the construction of more than 600 housing units, over 200 hotel rooms, and 45,000 square meters of office space, complemented by retail and service facilities. The King Salman Park Foundation provides the land for these developments.
Project progress and timeline
Covering approximately 17 square kilometers, King Salman Park has made substantial progress in infrastructure and landscaping over the past six years. The majority of the project is anticipated to be completed by 2030. Upcoming announcements will reveal additional developers for the park’s initial zones, with further rights planned for 2026.
Design and features
Valued at $9.4 billion as of 2024, the park’s design includes valleys with one million trees and a microclimate supported by rivers and water jets, alongside a 7km circular walkway called The Loop. The masterplan incorporates a national theatre, several museums, a golf course, and mixed-use residential districts designed by Saudi firm Omrania and Denmark’s Henning Larsen.
Strategic significance
The King Salman Park fund is a key driver in Riyadh’s urban expansion and sustainability goals, attracting leading institutional investors and developers to build integrated, high-quality neighborhoods. This initiative aligns with Saudi Arabia’s Vision 2030, aiming to enhance livability and economic diversification in the capital.
According to the latest updates show that this project is part of a broader $23 billion infrastructure investment in Riyadh, with private sector involvement worth $15 billion. Construction advances include tunnels, bridges, and the Royal Arts Complex, which is nearing half completion, establishing King Salman Park as a landmark urban development in the Middle East.
