ZAWYA: Retal-led consortium wins $850mln mixed-use project in Riyadh’s King Salman Park

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Staff WriterA consortium led by Saudi-listed Retal Urban Development Company and local private developer Asasat Real Estate Company and Bahrain’s Bareeq Al Retaj has been awarded a 3.2 billion Saudi riyals ($850 million) mixed-use project within in King Salman Park master plan in Riyadh.The project was awarded by King Salman Park Company (KSPC) which is overseeing the 7.2 square kilometre (sq.km.) urban regeneration project.The predominantly residential project is located in Package Four within the Cultural Neighborhood, near the Royal Arts Complex in Riyadh, and will include more than 600 residential units, over 140 hotel units, around 50,000 square metres of office space as well as retail outlets, restaurants, cafés and leisure components, Retal said in a stock exchange statement.Fund-based development structureRetal said the project will be implemented through an investment fund managed by SAB Invest and regulated by the Capital Market Authority (CMA).Under the structure, King Salman Park Company contributes the land, while consortium partners provide capital and development expertise.The project award announcement was made on the sidelines of MIPIM 2026 global real estate event in Paris.KSPC said in a statement that the project award was finalised in November 2025, with definitive agreements currently being completed.(Writing by Anoop Menon; Editing by SA Kader)([email protected])Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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