Deal Signed to Establish Riyadh Creative District’s First Phase at KAFD

Riyadh, Saudi Arabia – October 2, 2025: The King Abdullah Financial District Development and Management Company (KAFD DMC) has signed a lease agreement with the Royal Commission for Riyadh City (RCRC) to establish the first phase of the Riyadh Creative District (RCD) within the iconic King Abdullah Financial District.

The collaboration strengthens KAFD’s position as the Kingdom’s premier destination for creative talent and world-class cultural institutions while reinforcing Riyadh’s ambition to become a global hub for creativity, media, and cultural innovation.

Landmark signing at KAFD

The agreement was formalised during a signing ceremony at KAFD, attended by senior leaders from KAFD and RCRC. As part of the deal, RCRC will lease three landmark buildings within KAFD to house the initial phase of RCD and accommodate its tenants.

Launched in February 2025 by the Board of Directors of RCRC under the patronage of His Royal Highness Crown Prince Mohammed bin Salman, the RCD is a cornerstone project aimed at nurturing Saudi Arabia’s creative economy. The district will bring together the Kingdom’s top talent to produce compelling content, drive cultural exchange, and contribute to economic diversification under the Vision 2030 framework.

Earlier this year, the prestigious Italian fashion school Instituto Marangoni opened its Riyadh campus within the RCD, marking a milestone in the district’s evolution and signaling its appeal to global cultural and educational institutions.

Driving Vision 2030 goals

Mohammed Alsudairy, Acting Chief Executive Officer at KAFD DMC, commented: “This agreement with RCRC to establish the Riyadh Creative District’s first phase highlights KAFD’s commitment to shaping the industries of tomorrow. By bringing together creative thinkers, business leaders, and cultural institutions in a single destination, we are opening doors for emerging talent and advancing Riyadh’s status as a global hub for creative and cultural innovation. The establishment of RCD within KAFD demonstrates our joint dedication to fostering a dynamic environment where culture and business flourish side by side, in line with the goals of Saudi Arabia’s Vision 2030 growth agenda.”

Mazen Ahmed Tammar, Vice President of City Marketing and Investment Promotion at RCRC, added: “Hosting the first phase of the Riyadh Creative District within KAFD reflects our shared vision of building Riyadh into a world-leading destination for creativity and innovation. By anchoring this initiative in one of the capital’s most iconic districts, we are laying the groundwork for a dynamic ecosystem that will empower the creative community, nurture local talent, attract global partners, and advance Riyadh’s role as a cultural and economic hub in line with Vision 2030.”

KAFD’s growing role

KAFD continues to play a pivotal role in Saudi Arabia’s economic diversification efforts by attracting global investment, talent, and business. Currently home to 19 regional headquarters and more than 140 commercial tenants, the district offers an integrated ecosystem where business, culture, and lifestyle converge.

The establishment of the Riyadh Creative District at KAFD underscores the Kingdom’s recognition of the creative sector as a vital driver of both social and economic growth. By leveraging this partnership, KAFD and RCRC will create a platform where creative industries can thrive, spurring innovation, cultural expression, and collaboration.