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Retal Urban Development Company received a project award letter from King Salman Park Company for a mixed-use development with an expected total value of SAR 3.2 billion.
The project, located in Riyadh's King Salman Park Cultural Neighborhood, comprises over 600 residential units, 140 hotel units, and approximately 50,000 square meters of office space.
The development is backed by an investment fund managed by SAB Invest, with the official contract signing expected on May 8, 2026.

Element List	Explanation
Introduction	Retal Urban Development Company announces the receipt of a project award letter with a total value of SAR 3.2 billion from King Salman Park Company to a consortium led by Retal Company, the project aims to develop a predominantly residential, mixed-use development located in Package Four within the Cultural Neighborhood of King Salman Park in Riyadh.
Date of Award	2026-03-10 Corresponding to 1447-09-21
Counterparty	King Salman Park Company(KSPC)
Project Value	Total expected project value of 3.2 billion Saudi Riyals
Expected Date for Signing the Contract	2026-05-08 Corresponding to 1447-11-21
Project Details	The project comprises an integrated urban district featuring more than 600 residential units, over 140 hotel units, and approximately 50,000 square meters of office space. It also includes retail activities, restaurants, cafés, and a variety of unique experiential offerings. It is located in Package Four within the Cultural Neighborhood of King Salman Park, near the Royal Arts Complex. The project will utilize the park’s unique components to minimize environmental impact. Its' thoughtfully designed urban planning framework ensures efficient mobility to secure a vibrant community, enhances public health. Additionally, the project will focus on design that aligns with the overarching vision of transforming King Salman Park into a unique world class destination. Such project is backed by an investment fund managed by SAB Invest and regulated by the Capital Market Authority. Under this structure, King Salman Park Company contributes the project land, while consortium partners provide capital and development expertise.
Related Parties	n/a
Additional Information	It is worth noting that this award was announced within the activities of the Global Urban Festival (MIPEM 2026) held in Cannes, France. For any inquiries, please contact Investor Relations Department at: +966138013803 or by e-mail: IR@retal.com.sa