What King Salman Park Foundation does

King Salman Park Foundation is a Saudi government entity established in March 2019 under the Vision 2030 framework to develop and operate King Salman Park, a 17.2 square kilometer urban park in central Riyadh. The Foundation is chaired by Crown Prince Mohammed bin Salman and led by CEO Ibrahim Al-Sultan, with Executive Director George Tenasif overseeing day-to-day operations. The park is one of four major giga-projects in Riyadh and is designed around 11+ square kilometers of green spaces, a 7+ kilometer circular pedestrian pathway, the Royal Arts Complex cultural anchor, and visitor centers, with sustainability targets including LEED and WELL Gold certification.

The Foundation develops the park as a mixed-use real estate platform organized into five major development packages, combining residential, office, hospitality, retail, and student/family amenities. Package 5 (over 1 million sqm, ~3,700 residential units, 300+ hospitality keys, 100,000+ sqm of Grade A office space) was awarded in March 2026 to a Kolaghassi-Al Othaim-RXR consortium via a CMA-regulated fund managed by Mulkia Investment Company, with a total project value exceeding SAR 11 billion (USD 3 billion). Package 4 (SAR 3.2 billion / USD 850 million, 600+ residential units, 140+ hotel keys, ~50,000 sqm office space) was awarded to a Retal Urban Development-led consortium with SAB Invest as fund manager. Total committed investment across all five packages exceeds SAR 20 billion (USD 5.3 billion+), with 93% of construction contracts already awarded.

The Foundation's revenue mechanics are structured around real estate sales, Grade A office leasing, hospitality operations, retail and F&B rental income, and infrastructure investment partnerships through fund vehicles. Core technology includes intelligent city solutions, central cooling systems, and an on-site wastewater treatment plant (WSTP), integrated to support sustainable urban management. End customers include residential buyers, corporate and office tenants, retail and F&B operators, hospitality and tourism visitors, and infrastructure/real estate investors. Marketing and deal flow are driven primarily through international real estate conferences (notably MIPIM 2026, where over USD 3.8 billion in new commitments were secured), the official website and investor inquiry portal, and PR/earned media coverage.

Name

King Salman Park Foundation

Legal name

King Salman Park Foundation

Website

https://kingsalmanpark.sa

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

King Salman Park Foundation is a Saudi government entity developing a 17.2 sq km urban park in central Riyadh under Vision 2030, delivering five mixed-use development packages totaling over SAR 20 billion in committed investment and serving investors, residents, tenants, and visitors.

Ownership category

akta.pro rank

Product category

Mixed-Use Real Estate Development and Urban Park Operations

NAICS

Nature Parks and Other Similar Institutions (712190), Museums, Historical Sites, and Similar Institutions (7121)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Urban Planning & Master Planning (BPAHAKAD)

akta.pro secondary industry

Sustainable/Green Building & LEED Consulting (BPAHAKAG)

Keywords

• Urban park development
• Mixed-use real estate
• Giga-project development
• Infrastructure investment funds
• Hospitality and retail leasing

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Real Estate Development Sales: The Foundation develops and sells residential units (approximately 3,700 units across multiple packages) to private buyers, generating proceeds from property transactions within the park's mixed-use districts.
2. Commercial and Office Leasing: Grade A office space totaling over 150,000 square meters across packages is leased to businesses and commercial tenants, providing recurring rental income.
3. Hospitality Operations: Approximately 440+ hospitality keys (around 300 in Package 5 and 140+ in Package 4) across hotels and serviced units generate hospitality revenue from guests and visitors.
4. Retail and F&B Rental Income: Curated retail spaces and food & beverage outlets are leased to operators, generating rental income from commercial areas within the mixed-use districts.
5. Infrastructure Investment Partnerships: The Foundation contributes land assets and partners with private-sector investors through CMA-regulated investment funds managed by partners such as Mulkia Investment Company and SAB Invest, generating returns through capital appreciation and fund management structures.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

King Salman Park Foundation develops and operates King Salman Park, a 17.2 square kilometer urban park in central Riyadh comprising 11+ sq km of green space, cultural venues including the Royal Arts Complex, and five mixed-use development packages. The Foundation develops residential units, Grade A office space, hospitality assets, and retail/F&B outlets for sale or lease, while offering structured investment access through CMA-regulated funds managed by partners such as Mulkia Investment Company and SAB Invest. Its offerings target institutional investors, commercial tenants, residential buyers, and visitors under Saudi Vision 2030.

Product overview

King Salman Park Foundation is developing one of the world's largest urban parks — a 17.2 km² green urban oasis in Riyadh, Saudi Arabia. The project operates as a mixed-use development combining: (1) Core park infrastructure with 11+ km² of green spaces, a 7+ km circular walking path, water features, and artistic elements; (2) Cultural venues including the Royal Arts Complex, Visitor Center, and museums; (3) Five major development packages (Packages 1–5) covering residential-led mixed-use districts with housing, offices, hospitality, schools, and retail totaling over SAR 20 billion in committed investment; (4) Investment opportunities in infrastructure (central cooling, WSTP, smart city solutions), real estate development, and F&B/retail operations. The foundation offers an investor inquiry portal and supplier portal for business engagement, all under Saudi Vision 2030.

Differentiator

Problem solved

Functional benefit

Products and services

• King Salman Park (حديقة الملك سلمان) A 17.2 square kilometer urban park project in central Riyadh offering green spaces, cultural venues, entertainment facilities, sports areas, commercial zones, and mixed-use districts, developed under Saudi Vision 2030 with LEED and WELL Gold sustainability targets.
• Package 5 Mixed-Use District A residential-led mixed-use district spanning over 1 million square meters with approximately 3,700 residential units, a K-12 school, around 300 hospitality keys, over 100,000 square meters of Grade A office space, and retail/dining offerings, targeting LEED and WELL Gold certification. Total project value exceeds SAR 11 billion (USD 3 billion), supported by a CMA-regulated investment fund managed by Mulkia Investment Company.
• Package 4 Cultural District Development A residential-led mixed-use development in King Salman Park's cultural district with project value exceeding SAR 3.2 billion (USD 850 million). Includes over 600 residential units, more than 140 hotel keys, nearly 50,000 square meters of Grade A office space, and curated retail and F&B spaces near the Royal Arts Complex, supported by an investment fund managed by SAB Invest.
• Infrastructure Investment Opportunities Investment opportunities in central district cooling systems, wastewater treatment plant (WSTP), and smart city solutions within King Salman Park, offered through the Foundation's investor inquiry portal and structured via CMA-regulated fund vehicles.
• Real Estate Development and Investment Investment opportunities in multi-use projects, real estate asset management, and facility management within King Salman Park, targeting residential, commercial, and mixed-use developments across the Foundation's development packages.
• F&B and Retail Sector Investment Investment and operational opportunities in restaurants, cafes, retail stores, and lifestyle brands within King Salman Park's commercial zones, targeting operators seeking premium high-footfall locations in a landmark destination.

Quantifiable outcome

• Targeting LEED and WELL Gold sustainability certifications for all major development packages
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ROSHN: ROSHN is a Saudi PIF-owned national residential developer delivering master-planned integrated communities. Comparable to King Salman Park Foundation in delivering large-scale, government-backed, mixed-use residential developments with sustainability standards and recurring community services revenue.
• Diriyah Company: Diriyah Company is a Saudi PIF-owned giga-project developer building a 7 sq km mixed-use heritage and cultural district in Riyadh. It is the closest comparable to King Salman Park in terms of scale, Vision 2030 alignment, mixed-use residential/cultural/commercial composition, and government-backed funding model.
• Qiddiya Investment Company: Qiddiya is a Saudi PIF-owned entertainment/sports giga-project near Riyadh, delivering attractions, hospitality, and residential over 334 sq km. Comparable as a Saudi Vision 2030 flagship master-planned development with phased delivery, government backing, and tourism/hospitality revenue streams.

Broad incumbents

• Dar Al Arkan Real Estate Development: Dar Al Arkan is Saudi Arabia's largest private-sector real estate developer, with master-planned residential and mixed-use projects across the kingdom. Comparable as a Saudi real estate developer combining residential, hospitality, and commercial development, though privately driven rather than government-backed.
• King Abdullah Economic City (Emaar the Economic City): Emaar the Economic City develops King Abdullah Economic City, a 168 sq km master-planned city in Saudi Arabia. Comparable as a GCC-scale master-planned, mixed-use, government-supported development with phased delivery and integrated residential/commercial/industrial components.
• NEOM Company: NEOM is Saudi Arabia's flagship $500B+ giga-project building a smart, sustainable city in Tabuk province. Comparable as Vision 2030-aligned mega-development with smart-city infrastructure and sustainability targets, though vastly larger and focused on a new urban tech corridor rather than an urban park.
• Aldar Properties: Aldar Properties is Abu Dhabi's largest real estate developer, operating mixed-use master-planned communities, Grade A office, retail, and hospitality. Comparable as a regional GCC real estate developer with diversified recurring revenue streams and integrated destination developments.
• Emaar Properties: Emaar Properties is the Middle East's largest publicly listed real estate developer, delivering master-planned mixed-use communities (e.g., Downtown Dubai), hospitality, retail, and Grade A office. Comparable as a globally scaled GCC developer with diversified real estate revenue streams across geographies.
• Red Sea Global (TRSDC): Red Sea Global is the Saudi PIF-owned developer of the Red Sea tourism giga-project. Comparable as a Saudi government-backed mega-development using sustainability certifications and integrated hospitality/residential infrastructure, though focused on coastal tourism rather than urban park development.

Emerging players

• Masdar City: Masdar City in Abu Dhabi is a sustainable, master-planned mixed-use district focused on clean-tech and urban livability, with LEED-targeted developments. Comparable as a Gulf-region destination development emphasizing sustainability certifications, smart-city infrastructure, and integrated live-work-play districts.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/KingSalmanPark
• Facebookfacebook.com/KingSalmanPark.SA
• LinkedInlinkedin.com/company/king-salman-park-foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about King Salman Park Foundation