King Abdullah Financial District continues to expand as Riyadh strengthens one of its largest mixed-use urban developments. The district now spans 1.6 million square meters and contains 95 buildings. The development combines offices, residences, hospitality, retail and extensive digital infrastructure.
The $7.8 billion development originally included more than 83 buildings, including 61 towers. Construction has since evolved into a broader district comprising 95 buildings designed by 25 international architectural firms.
The latest works focus increasingly on infrastructure, mobility, public spaces and operational facilities. This shift reflects the district’s transition from large-scale construction toward a functioning business and lifestyle destination.
King Abdullah Financial District advances infrastructure construction
King Abdullah Financial District continues to receive major infrastructure works supporting its buildings and public realm. A 2026 progress report shows ongoing utility tunnel construction in Area 6. Al-Ajmi leads the Area 6 utility tunnel and infrastructure package. Saudi Consult provides site supervision for the works. The package carries a budget of SAR578.98 million.
The scope includes utility diversions and permanent mechanical, electrical and plumbing tunnels. It also covers reinforced-concrete tunnels across northern and southern areas. The northern works include a 745-metre main tunnel. They also include a 230-metre medium-voltage tunnel divided into 30 segments.
The package originally targeted completion in March 2026. An extension moved the revised completion date to December 21, 2026. Meanwhile, wider road infrastructure is also advancing around the district. The Royal Commission for Riyadh City completed two major overpass bridge installations in May 2026.
The surrounding road network had exceeded 35% completion at that stage. The works aim to improve traffic movement around one of northern Riyadh’s major development zones.
King Abdullah Financial District strengthens its operating ecosystem
King Abdullah Financial District has moved beyond its original construction-focused phase. Several facilities now support businesses, hospitality operators and visitors within the district.
In September 2026, KAFD announced the addition of Atheel Hotel to its hospitality offering. The district also welcomed occupational health cooperation with the National Center for Occupational Safety and Health.
Furthermore, Asharq Bloomberg launched broadcasting operations from studios inside KAFD in July. Franklin Templeton also announced its presence in the district in June.
These developments demonstrate the district’s expanding commercial ecosystem. They also support its positioning as a business and lifestyle destination.
The district includes state-of-the-art physical and digital infrastructure. It has also achieved LEED Platinum certification across the development, according to the Public Investment Fund.
KAFD currently represents one of Saudi Arabia’s major urban transformation projects. Its scale places it alongside other landmark developments supporting the Kingdom’s economic diversification program.
The district’s development also provides a useful comparison with Saudi Arabia’s emerging vertical construction ambitions. Jeddah Tower, another major Saudi development, is advancing toward its planned 2028 completion and a height exceeding 1,000 meters.
King Abdullah Financial District develops as a mixed-use urban destination
The district was originally planned as a major financial center for Riyadh. However, its current configuration incorporates a wider range of uses. The development provides office accommodation alongside residential, hospitality and retail facilities. Its masterplan also incorporates pedestrian connections, public spaces and integrated transport infrastructure.
According to the earlier reports the development could accommodate up to 50,000 residents. Moreover, more than three million square meters of space and 62,000 parking spaces. The current PIF description identifies 95 buildings across the 1.6-million-square-metre development. It also identifies KAFD as the world’s largest development to achieve LEED Platinum certification.
Parsons continues to play a major role in delivering district-wide infrastructure and construction management services. Its current project information also records completed public-realm and automated waste collection works within KAFD.
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King Abdullah Financial District Project Progress
A press release revealed that, to date over 70% of the district’s construction works have been complete. However, the government noted that the project has not set an exact timeline for its completion. Official reports note that the King Abdullah Financial District boasts a 17.2 million square foot masterplan. Moreover, it will provide over 3 million square meters of space for a wide range of uses. In addition to accommodation to a total of 62,000 parking spaces.
Quite impressively, the development stands as the largest LEED-certified mixed-use financial district. Moreover, it is the very first vertical city solution in Saudi Arabia, that includes a 5-asset class living district. Its ownership and management are by the King Abdullah Financial District Development and Management Company (KAFD DMC).
Extensively, the project forms part of Saudi Arabia’s efforts to transform hundreds of desert square miles into brand-new cities. Taking it a step further, KAFD will include an intricate network of elevated passenger bridges that will be cooled by solar power. The bridges, also known as skywalks, will serve as a connection to a total of 30 buildings, within the financial district.
Project Fact Sheet
Project: King Abdullah Financial District (KAFD)
Location: Riyadh, Saudi Arabia
Project type: Mixed-use financial and urban development
Development value: Approximately $7.8 billion
Development area: 1.6 million square meters
Buildings: 95
Original building plan: More than 83 buildings
Original tower plan: 61 towers
Architectural firms: 25
Uses: Offices, residences, hospitality, retail and lifestyle facilities
Parking capacity: 62,000 spaces
Original reported accommodation capacity: Up to 50,000 residents
Sustainability certification: LEED Platinum
Ownership: King Abdullah Financial District Development and Management Company
Ultimate owner: Public Investment Fund
Area 6:
- Utility infrastructure budget: SAR578.98 million
- Original completion date: March 19, 2026
- Revised completion date: December 21, 2026
Northern main utility tunnel: 745 meters
Northern medium-voltage tunnel: 230 meters
Surrounding road network progress: More than 35% in May 2026
Project Team
Owner: King Abdullah Financial District Development and Management Company (KAFD DMC)
Ultimate owner: Public Investment Fund (PIF)
Construction management: Parsons Corporation
Area 6 infrastructure contractor: Abdulali Al-Ajmi Company
Area 6 supervision consultant: Saud Consult
Architectural firms: 25 international architectural firms
Road infrastructure authority: Royal Commission for Riyadh City
Hospitality operator: KAFD hospitality partners
District operations: KAFD DMC
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