King Salman Park Foundation Announces Key Investment Milestones at MIPIM in France
King Salman Park Foundation announced the awarding of its fourth investment package to a consortium led by Retal Urban Development Company during the MIPIM 2026 festival in Cannes, France. This project, valued at over SAR3.2 billion ($850 million), will focus on a mixed-use residential development in the park’s cultural district, supported by an investment fund managed by SAB Invest.
In a significant expansion of its private sector partnerships, the foundation unveiled plans to launch additional investment packages worth over SAR14.2 billion ($3.8 billion). This brings the total value of investment agreements concluded to date to over SAR20 billion ($5.3 billion) across five primary development packages. These initiatives use a range of tools, including regulated investment funds and international alliances, to ensure transparent and effective urban development.
Under the proposed agreement, Retal will assume leadership of the project's development in cooperation with several specialized partners. The project will include an integrated urban neighborhood with more than 600 residential units, more than 140 hotel rooms, and about 50,000 square meters of office and commercial space, along with diverse restaurant and cafe experiences.
The project is located near major cultural landmarks, most notably the Royal Arts Complex. It is intended to be an integral part of the park’s cultural and artistic ecosystem and the lifestyle it offers.
With 93% of infrastructure packages awarded, the park is transitioning toward high-value opportunities, including a championship golf community, a tower area, and metro-integrated neighborhoods under the 15-minute city model.
Retal Urban Development Company stated that this opportunity reflects the maturity of the real estate investment market in the Kingdom. The company expressed confidence in culture-led mixed-use urban projects as a catalyst for sustainable returns and a long-term positive impact on communities.
