KAFD DMC has signed a memorandum of understanding with Osool Integrated Real Estate Company to evaluate new property investments in Riyadh. The non-binding deal aims to address the rising demand for prime commercial and residential space within the financial district. The collaboration follows a recent SAR 12 billion financing facility raised by the district operator.
The developer of Riyadh’s landmark business district, KAFD DMC, has secured a SAR 12 billion senior-secured Murabaha funding facility. Spanning a 15-year term, this marks the company’s first independently raised debt package. Arranged by Al Rajhi Capital alongside a syndicate of ten local and regional banks, the oversubscribed facility will fund further commercial asset delivery and infrastructure expansion across the premier financial hub.
Saudi Arabia's Minister of Municipalities and Housing, Majid bin Abdullah Al-Hogail, has secured housing projects worth over 1.9 billion riyals during an official visit to China. The trip featured the signing of six major agreements alongside the launch of the Saudi-Chinese Contractors Forum. These deals form part of a broader bilateral strategy to construct 100,000 homes in the Kingdom by 2030.
Miraval Resorts and Spas has opened its first international location, Miraval The Red Sea, on Shura Island in Saudi Arabia. Announced on 9 June 2026, the 180-room adults-only wellness retreat blends the brand's mindfulness philosophy with local heritage. The eco-friendly resort features the largest spa on the island, plant-forward dining and specialised wellness programs powered completely by renewable energy.
The Public Investment Fund of Saudi Arabia has signed a non-binding agreement with Talaat Moustafa Group Saudi for Real Estate Development. The partnership intends to explore mixed-use property opportunities across the asset portfolio of the wealth fund. This initiative directly supports the newly launched urban development and livability ecosystem within the strategic 2026-2030 roadmap of the sovereign fund.
Saudi Arabia has launched a major public-private partnership project to upgrade 50 public parks across three regions. The Ministry of Municipalities and Housing and the National Center for Privatization & PPP are inviting local and international investors to manage the 15-year project. The scheme will improve urban infrastructure, add commercial facilities and boost community engagement across Jeddah, Madinah and the Eastern Province.
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