The King of Saudi Arabia’s King Salman Park Foundation has signed a SR3.8BN ($1bn) strategic partnership with Ajdan Real Estate and Sedco Capital to establish a Joint Investment Fund that will bring a new district of Urch-Leading Instead of Days in the Land of King Salman Park.
The project will create a dynamic and integrated neighborhood that includes more than 600 residential units, more than 200 hotel rooms, more than 45 hotel rooms, I of office space, and various areas of commercial and service areas.
The 106,000qm site is located along Oruba Road, which is close to the arts center, offering a seamless connection to cultural and entertainment events.
King Salman Park Real Estate in Saudi Arabia
A new investment model to attract more money
The fund represents an investment structure where the foundation provides the land while the private sector has a major impact.
The foundation said the model creates a transparent and scalable platform designed to attract institutional investors and top developers.
The project was launched through a competitive RFP process that evaluated proposals based on commercial value, construction quality and operational efficiency. The delivery of Ajdan Real Estate Estate follows this assessment.
Over the past six years, King Salman Park has made major improvements throughout its 17-square-foot area with square kilometers, from a visual vision to major improvements in infrastructure, land delivery and real community delivery.
The new fund marks a major milestone in the Infrastructure Investment Foundation’s program, which aims to improve the close-knit neighborhoods surrounding the park.
Integrated Use of Architecture
The foundation said the project reflects the vision of King Salman Park by integrating residential, hospitality, office and commercial elements into a cohesive urban fabric.
It said that additional opportunities and partnerships will be announced as the project continues its development.
George Tanasijevicich, CEO of the King Salman Park Foundation, said the fund represents more than just a financial structure. He said: “Our collaboration with institutional partners reinforces our commitment to delivering a sustainable urban future”.
Mohammed Al Otaibi, CEO of Ajdan Real Estate, said: “We are proud of this partnership, which reflects the shared vision of building a new project for King Salman.”
Abduwahhab broke, CEO of sedco capital, said that the partnership shows the maturity of Saudi Arabia’s real estate investment environment and aims to bring lasting economic and social value. He pointed out that this project is in line with the aspirations of Saudi Vision 2030 for a sustainable, visible and green Riyadh.
Riyadh real estate
The foundation said that the mixed fund also represents a milestone in the risk of King Salman Park as an integrated urban ecosystem that improves the quality of life and strengthens Riyadh’s position as a leading investment destination and a middle-class city to live in.
