King Salman Park Foundation Announces $1 Billion Mixed-Use Fund with Ajdan Real Estate and SEDCO Capital

The King Salman Park Foundation has signed a strategic partnership with Ajdan Real Estate and SEDCO Capital to establish a SAR3.8 billion ($1 billion) mixed-use investment fund to develop a vibrant urban neighborhood within the boundaries of King Salman Park, one of the central pillars of Saudi Vision 2030 and among the largest urban park projects globally.

 According to a press release issued by the foundation, the project will deliver a vibrant residential-led mixed-use district featuring more than 600 residential units, over 200 hotel rooms, 45,000 square meters of office space, and a variety of retail and service facilities. Strategically located on a 106,000 square-meter site along Oruba Road, adjacent to the Royal Arts Complex, offering exceptional accessibility and seamless integration with the park’s cultural and entertainment landscape.

 The fund reflects an investment model in which the foundation provides the land, while private-sector partners contribute capital, creating a transparent, bankable investment platform. The project was launched through a comprehensive and flexible RFP process that evaluated commercial value, design quality, and execution capability, ultimately selecting the proposal submitted by Ajdan Real Estate.

 Over the past six years, King Salman Park has progressed from vision to reality, with major advancements in infrastructure, landscaping, and public-realm development across its 17-square-kilometer area. The new fund represents a significant step within the foundation’s real estate investment program, which aims to attract leading institutional investors and top-tier developers to deliver integrated, high-quality urban neighborhoods around the park.

 The release disclosed that the project embodies this vision by integrating residential, hospitality, office, and commercial components into a cohesive urban fabric. This announcement marks a new phase in the park’s development journey, with additional opportunities and partnerships to be announced in the future.

 CEO of King Salman Park Foundation George Tanasijevich said that this fund is not merely an investment vehicle; it is a catalyst for developing a fully integrated urban destination that brings together nature, culture, and community in the heart of Riyadh.

 “Our collaboration with institutional partners strengthens our commitment to delivering a sustainable and vibrant urban future,” he added.

 CEO of Ajdan Real Estate Mohammed Al Otaibi said: “We are proud of this partnership, which reflects a shared vision to create a human-centered, fully integrated neighborhood within King Salman Park. The development sets a new benchmark for sustainable and mixed-use urban design in Riyadh.”

 CEO of SEDCO Capital Abdulwahhab Abed commented that this collaboration highlights the strength and maturity of Saudi Arabia’s real estate investment landscape and aims to create lasting economic value and meaningful social impact through the development of a transformative urban project fully aligned with the ambitions of Saudi Vision 2030 for a sustainable, vibrant and green Riyadh.

 The mixed-use fund represents a pivotal milestone in the development of King Salman Park as an integrated urban ecosystem that enhances quality of life and strengthens Riyadh’s position as a leading investment hub and a world-class destination to live in.