Saudi Arabia’s King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference held in Cannes, France, bringing total committed investment in one of Riyadh’s most ambitious urban development projects to more than $5.3 billion. The announcements mark a significant milestone for the giga-project, which is set to become one of the largest urban parks in the world.
Landmark Deals at MIPIM 2026
At the heart of the announcements was a $3 billion-plus fund for Package 5 of the project, led by Kolaghassi Development Company and backed by international investors to develop a major mixed-use district within the park. A second deal, valued at more than $850 million for Package 4, was awarded to Retal Urban Development for the construction of another mixed-use district. Together, these two packages represent the largest foreign private-sector commitments to King Salman Park to date, bringing total investment across all five development packages to more than SAR 20 billion.
MIPIM, the world’s leading real estate summit, draws together developers, institutional investors, and city planners from more than 90 countries. Saudi Arabia’s strong showing at this year’s conference reflects growing confidence among global real estate investors in the Kingdom’s development market, driven by the accelerating pace of Vision 2030’s urban transformation agenda.
What King Salman Park Will Deliver
Spanning over 13 square kilometres in the heart of Riyadh — larger than Central Park in New York or Hyde Park in London — King Salman Park is designed to offer a comprehensive urban living experience for the Saudi capital. The project encompasses the Royal Arts Complex, outdoor performance venues, sports and wellness facilities, retail and hospitality zones, a museum district, and extensive green spaces. When complete, the park is projected to welcome more than 50 million visitors annually, establishing Riyadh as a world-class urban destination.
The foundation operates under the Vision 2030 umbrella and works with both domestic and international developers to ensure that the park’s commercial zones are built to global standards. The involvement of major international investors through MIPIM signals that appetite for premium Saudi real estate has expanded well beyond regional markets — international institutional capital is now a meaningful driver of the Kingdom’s most ambitious urban projects.
A Broader Signal for Saudi Real Estate
The King Salman Park investment figures are part of a wider trend, with total commitments to Saudi giga-projects accelerating steadily. Vision 2030 has catalysed a structural transformation in Riyadh’s urban landscape, positioning the capital as a destination for investment, tourism, and culture on the global stage. As the project progresses toward completion, its role as both a financial anchor and a quality-of-life asset for Riyadh is expected to deepen — drawing further capital and international attention toward the Kingdom’s real estate market in the years ahead.
