Partnership highlights KAFD’s role as an incubator of innovation and natural hub for investors seeking entry to the promising Saudi market

Riyadh, 2022 – King Abdullah Financial District (KAFD), the region’s prime destination for business and cosmopolitan lifestyle, today announced that it has signed a memorandum of understanding (MoU) with the Ministry of Investment of Saudi Arabia (MISA). Under the agreement, MISA’s strategic support of KAFD will include attracting and facilitating future investment opportunities, providing investment and entrepreneurship training and development support, and raising awareness of KAFD’s significance and benefits among potential investors.

As the largest mixed-use development in the region, KAFD is one of the key projects in Riyadh that will enable the Kingdom’s economic growth. Owned by the Public Investment Fund (PIF) and strategically located in the of Riyadh, KAFD is part of the national transformation powered by Vision 2030. The agreement with MISA supports KAFD’s mission to foster innovation, attract top business leaders, and create opportunities that will diversify the Kingdom’s economy.

KAFD and MAEE will also engage in data sharing and information exchange. KAFD is a smart city pioneer – gathering and analysing data in order to improve services, including water efficiency, is one of the core values of the destination. In addition to this, the two entities will organize joint workshops, training courses and advisory services, so as to share best practice and further the development of both parties. KAFD will have access to the platforms and offices of MAEE in order to provide educational content about water conservation, thereby cementing KAFD’s position as a global leader when it comes to factoring sustainability into business and lifestyle.

“When business leaders choose KAFD as their base, they are joining a community and a lifestyle destination, not just a business hub,” said Gautam Sashittal, KAFD CEO. “It is an honor for KAFD to enter into an agreement with MISA that will strengthen our ability to expand opportunities and drive significant value for the Kingdom.”

A landmark project that symbolizes the economic transformation of Saudi Arabia, KAFD is home to 94 glittering towers across 1.6 million square meters of state-of-the-art office space, bespoke luxury residential units, and world-class retail, hospitality and entertainment offerings. It is the largest development ever to achieve LEED Platinum certification, the highest accreditation from the world’s leading authority for green building technology.