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) at KAFD. This strategic partnership strengthens Riyadh’s growing reputation as a global hub for creativity, media and cultural innovation and further positions KAFD as the Kingdom’s leading destination for creative talent and world-class cultural institutions.
The agreement was formalised during a signing ceremony at KAFD attended by senior representatives from both KAFD and RCRC. Under the agreement, RCRC will lease three landmark buildings within KAFD to host the first phase of the RCD and accommodate its creative tenants.
Launched in February 2025 by the Board of Directors of the Royal Commission for Riyadh City under the patronage of His Royal Highness Crown Prince Mohammed bin Salman, the RCD is designed to bring together Saudi Arabia’s leading creative minds to develop innovative content, foster cultural exchange and contribute to the Kingdom’s economic transformation in line with Vision 2030. Earlier this year, the prestigious Italian fashion institution, Instituto Marangoni, opened its Riyadh campus within the RCD, marking a major milestone in the district’s evolution.
Mohammed Alsudairy, Acting Chief Executive Officer at KAFD DMC, said: “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.”
His Excellency Mazen Ahmed Tammar, Vice President of City Marketing and Investment Promotion at the 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 creative talent, attract global partners, and advance Riyadh’s role as a cultural and economic hub in line with Vision 2030.”
KAFD plays a central role in advancing Saudi Arabia’s economic diversification agenda, attracting global talent, investment and business to the Kingdom. Today, it is home to 19 regional headquarters and more than 140 commercial tenants, creating a unique environment where business, culture and lifestyle intersect. This collaboration with RCRC reflects a shared ambition to accelerate the growth of Saudi Arabia’s creative economy by supporting innovation and cultural expression at the heart of KAFD.