ZAWYA: King Salman Park Foundation announces $850mln mixed-use fund with consortium led by Retal Urban Development Company and SAB Invest

About this update from Retal Urban Development Company

Riyadh, Saudi Arabia: At MIPIM 2026, The King Salman Park Foundation announced the award of Package 4, confirming the selection of a consortium led by Retal Urban Development Company to deliver a new residential-led mixed-use development in the heart of the Park’s cultural district. The contemplated development will be supported by a fund managed by SAB Invest and has a total project value exceeding SAR 3.2 billion (USD 850 million). The award was completed in November 2025, and the parties are currently progressing the definitive agreements.This announcement is part of King Salman Park’s wider real estate investment program. At MIPIM 2026, King Salman Park simultaneously announced investment packages worth more than USD 3.8 billion in two newly secured private-sector commitments across multiple mixed-use districts, bringing total committed investment to over SAR 20 billion across five major packages.A disciplined, fund-led investment frameworkKing Salman Park is demonstrating a level of governance, procurement clarity, and fund-led structuring that supports a bankable platform for metropolitan-scale urban investment in central Riyadh. The Foundation’s investment program is structured through fund vehicles, land-in-kind joint ventures, and international development partnerships, enabling high-quality private-sector participation at scale.For Package 4, the award contemplates the establishment of a CMA-regulated fund investment model, reflecting the Foundation’s approach of contributing land while partnering with private-sector partners to provide capital and development expertise. The award followed a competitive and rigorous RFP process, assessing proposals against commercial viability, design excellence, and delivery capability to reinforce transparency and long-term value creation.A cultural district destination: homes, hospitality, offices, retailUnder the proposed agreement, Retal will lead the development, working alongside:Asasat, a forward thinking real estate development company specializing in high-end residential and commercial projectsBareeq Al Retaj, one of Bahrain’s leading real estate development companies, known for delivering large-scale, high-end residential, hospitality and mixed-use projectsThe project will deliver an integrated urban district comprising:More than 600 residential unitsOver 140 hotel keysAlmost 50,000 sq m of Grade A of...

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