The King Abdullah Financial District Development and Management Company has signed a memorandum of understanding with Osool Integrated Real Estate Company to explore development and operational investments.

The non-binding agreement will see both organisations collaborate to identify new investment opportunities across the financial district. The partnership intends to combine the development capabilities of KAFD DMC with the asset management background of Osool.

Corporate leaders stated that the initiative supports the ongoing expansion of Riyadh as a global commercial hub in line with Saudi Vision 2030 objectives. The transaction also highlights the rising involvement of private capital and institutional backers in urban projects across Saudi Arabia.

Osool manages a varied property portfolio that covers more than 1.2 million square metres. This includes commercial, residential, retail, mixed-use and hospitality assets. The investment firm focuses on asset performance and long-term value creation within the Kingdom.

The financial district is working to meet a high demand for corporate and residential space in Riyadh, which currently exceeds available supply. More than 140 firms are based in the district, including 25 regional headquarters. The inclusion of a specialised investment partner is intended to expand this commercial capacity.

John Pagano, Managing Director of KAFD DMC, said: “KAFD is at an exciting point in its evolution. It has become central to the Saudi Vision 2030 story as one of the region’s fastest-growing business and lifestyle destinations. We have built a destination that many of the world’s leading businesses are proud to call home. As KAFD enters its next phase of development, we are seeing increasing interest from institutional capital seeking exposure to Riyadh’s growth story.”

He added: “Saudi Arabia is expected to see its population grow significantly, creating notable demand for integrated urban environments like KAFD, which is committed to continued growth in commercial, residential, hospitality, and retail offerings across the district. We look forward to working with Osool to explore opportunities that support KAFD’s expansion and long-term growth.”

Feras AlBanyan, CEO of Osool Integrated Real Estate Company, said: “Osool was established with a clear ambition: to create lasting value from one of the Kingdom’s most important real estate portfolios while supporting Saudi Arabia’s long-term economic and urban development goals. Today, we are building an integrated real estate investment and operating platform that combines institutional capital, asset management expertise, operational excellence, and strategic partnerships to unlock value at scale.”

He noted: “This agreement reflects our confidence in the future of Saudi Arabia’s real estate sector and our commitment to contributing to the creation of sustainable, high-performing destinations that deliver economic impact, strengthen communities, and generate long-term value. We look forward to working closely with KAFD Development and Management Company to explore opportunities that support this shared vision and contribute to the continued growth and success of one of the Kingdom’s most prominent destinations.”

The preliminary agreement follows a recent SAR 12 billion Murabaha financing facility raised by the district management to increase its private capital sources.