Realising KAFD, Saudi Arabia’s dynamic city built for tomorrow

King Abdullah Financial District (KAFD) is a master-planned urban development, envisioned to become Riyadh's new Central Business District (CBD) as a key enabler of Saudi Arabia’s 2030 Vision. Located in the heart of the Saudi Capital, spanning an area of 1.6 million square meters, KAFD merges the world of business and lifestyle across five asset classes, featuring Grade A office spaces, upscale residences, diverse commercial and retail areas, luxury hospitality, and vibrant entertainment venues, all interconnected and walkable within 10 minutes.

When the Public Investment Fund (PIF) of Saudi Arabia acquired KAFD, the project was already underway at different stages of construction. To bring PIF's vision to life, JLL was enlisted to support its subsidiary, King Abdullah Financial District Development and Management Company (KAFD DMC) in delivering the project.

JLL's multi-functional teams, beginning with our Strategic Consulting professionals, advised on the optimal mix for the master plan based on detailed market analysis, international benchmarking and supply-demand assessments. This included financial appraisals and a phased project delivery strategy to enhance viability and market attractiveness.

Lidar scanning was utilised by our Project & Development (PDS) services team to create precise 3D representations of the site, providing accurate as-built documentation for reevaluating project feasibility, updating plans, and estimating costs and timelines. Subsequent project management and cost management services oversaw the construction of two 5-star hotels, 12 twelve mixed-use commercial towers, and essential infrastructure, including the Wadi, a landscaped pedestrian route that connects the entire district at a 5 meters elevation, skywalks, road network, utilities & ICT infrastructure, and a data centre.

Upon completion, JLL's Leasing team developed a pre-leasing and leasing strategy for both the office and retail asset classes and supported tenant introductions, while our Property Asset Management (PAMS) team advised on the property and facility management strategy and implementation plan, cost of operations as well as the community management strategy.

With JLL's full suite of services, we partnered with KAFD DMC and addressed the diverse needs across the entire project life cycle. From master planning to construction, real estate management, leasing, and community management, our team was able to deliver unified solutions, seamless service, and client experience, ultimately contributing to the success of KAFD.

At the onset, insights from the PDS, PAMS, and Leasing teams were essential in enabling our Strategic Consulting team to integrate all the necessary downstream market intelligence during the initial planning stages, ensuring smooth delivery of the master plan.

Each phase of this transformative development had its own unique objectives and challenges. In every case, JLL focused on preplanning to identify and mitigate schedule risks while leveraging digital platforms to monitor progress and ensure timely milestone completion. Our integrated service model allowed each project phase to benefit from cross-functional insights, enabling us to provide holistic problem-solving, adapt quickly to changes, and ensure optimal resource utilisation. Our sustainability experts and WiredScore Accredited professionals also worked with KAFD DMC on their smart and green ambition. This ultimately enhanced project efficiency, quality, and overall success for KAFD DMC.

KAFD is poised to be a cornerstone of Saudi Arabia's economic growth and diversification for years to come, promising a bright future for the region. As a city within a city, it’s the Kingdom’s first vertical city that’s home to 95 stunning buildings inspired by the native landscape, designed by over 25 world-leading architectural firms.

KAFD sets new benchmarks in urban living, smart city solutions, and sustainable development. It is recognized as the first neighborhood in the Middle East and North Africa (MENA) to achieve WiredScore's Global Smart Neighborhood Certification. A green district, KAFD is the world’s largest LEED platinum-certified business and lifestyle destination with over 40 Silver and Gold LEED-certified buildings.

In October 2024, JLL's partnership with KAFD DMC evolved from a project delivery partner to an occupier with the establishment of our regional office across two floors within KAFD.