Naif Alrajhi Investment to develop District 1 in King Salman Park

The project is being undertaken in partnership with the King Salman Park Company for Investment and Real Estate Development, as well as Saudi Fransi Capital.
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Updated 19 September 2023
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Naif Alrajhi Investment to develop District 1 in King Salman Park

Naif Alrajhi Investment has announced its winning of a real estate development contract for the first real estate investment land parcel in King Salman Park in Riyadh. The project is being undertaken in partnership with the King Salman Park Company for Investment and Real Estate Development, as well as Saudi Fransi Capital. The project will be situated within Phase 1, District 1 of King Salman Park, covering an area of 290,000 square meters. It will be located west of the Visitors’ Center, south of the Royal Arts Complex, and east of King Abdulaziz Road.

This project marks the first ever partnership between the government and private sector, utilizing an innovative financial and operational structure developed through a collaboration between the King Salman Park Company and Saudi Fransi Capital. The private sector will fully manage the project in accordance with the objectives of Vision 2030. This partnership follows the successful launch and closure of the “King Salman Park Real Estate Development Fund” by Saudi Fransi Capital and the King Salman Park Company. The private closed investment fund has a total size of SR4 billion ($1.07 billion) and is both Shariah-compliant and registered with the Capital Market Authority of Saudi Arabia.

Naif Alrajhi Investment group will act as the real estate developer and the master lessee for the entire mixed-use project, which will consist of more than 1,500 residential units, 140,000 square meters of rentable office and retail space, a hotel, a school, and public spaces for both religious and
community well-being, along with a variety of amenities. 




Naif Saleh Al-Rajhi, chairman and CEO of Naif Alrajhi Investment

Naif Saleh Al-Rajhi, chairman and CEO of Naif Alrajhi Investment, said: “At Naif Alrajhi Investment, we take pride in our innovative and futuristic thinking and development, which begins with our belief and commitment to Vision 2030. We are honored to have been chosen to work on this opportunity with our partners to develop the first private real estate investment land parcel within King Salman Park. The project is a mixed-use development and is situated in a vital and highly significant area for the future of Riyadh.”

George Tanasijevich, chief executive of King Salman Park Foundation, said: “We are proud to partner with Naif Alrajhi Investment and Saudi Fransi Capital. The King Salman Park Real Estate Development Fund will realize our shared vision of driving the sustainable growth and development of King Salman Park and the city of Riyadh, in line with Saudi Vision 2030.”

Meanwhile, Salam Alkhunaizi, CEO and board member of Saudi Fransi Capital, said: “We are extremely honored and privileged to be part of the iconic King Salman Park development through the launch of this fund, which is another milestone in Saudi Fransi Capital’s continued efforts to provide its investors with the most innovative and diversified investment solutions whilst striving to play a prominent part in the realization of Vision 2030 projects and its various realization programs. With the unique structuring and partnerships established with this fund alongside King Salman Park Company for Investment and Real Estate Development and Naif Alrajhi Investment group, we hope to provide a groundbreaking blueprint on how public-private partnerships can work profitably and efficiently for all, especially in the execution and management of large-scale and iconic projects such as King Salman Park.”


ITC Infotech accelerates Vision 2030 through digital hub in Riyadh

Updated 17 January 2026
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ITC Infotech accelerates Vision 2030 through digital hub in Riyadh

ITC Infotech’s commitment to delivering real digital change in the Middle East is reinforced by strengthening collaboration and working more closely with customers on the ground. The establishment of its Digital and AI Engineering Hub in Riyadh brings superior digital engineering and AI skills closer to businesses, allowing for speedier collaboration, localized innovation, and solutions targeted to regional needs. This strategic expansion aligns with Saudi Arabia’s Vision 2030 and underscores ITC Infotech’s long-standing emphasis on partnership-led growth and customer-centric innovation.

The hub was officially inaugurated on Jan. 15 by Sanjiv Puri, chairman and managing director of ITC Ltd. This facility is designed to help enterprises leverage advanced technologies and convert digital ambitions into measurable business outcomes. This move aligns closely with Saudi Arabia’s efforts to build a knowledge-driven economy powered by innovation and technology.

Saudi Arabia’s digital leap

Vision 2030 is more than just economic diversification; it is a clear blueprint for creating a technologically advanced society. This vision is centered on the integration of artificial intelligence and digital engineering, which are transforming industries and enabling long-term, sustainable growth. The strategic importance of AI is clear, with the Saudi Data and AI Authority estimating that it may add $135 billion to the Kingdom’s GDP by 2030. This commitment is supported by significant investments, including $14.9 billion announced at LEAP 2025 to advance digital infrastructure, talent, and next-generation technologies, as well as historic projects like the $2.7 billion Hexagon Data Center in Riyadh. Together, these efforts are laying the foundation for a secure, resilient, and future-ready digital ecosystem that can support AI adoption, data-driven governance, and smart city development at scale.

What the hub offers

ITC Infotech’s Riyadh hub is designed to fuel this momentum by focusing on three core areas:

  • AI-powered platforms: Delivering predictive analytics, intelligent automation, and data-driven insights to help businesses transition from reactive operations to proactive strategies.
  • Digital engineering solutions: Leveraging Industry 4.0-driven smart manufacturing capabilities, integrating AI-led modeling, connected systems, and advanced analytics to optimize production performance, improve asset utilization, and proactively reduce operational and quality risks across the engineering lifecycle.
  • Cloud-native architectures: Building agile, secure, and resilient ecosystems that enable faster innovation and seamless integration across enterprise systems.

These capabilities are designed to enable organizations to innovate, scale, and compete in a rapidly evolving digital economy. Beyond technology, the hub is fundamentally anchored in building a team of the region, from the region, for the region and for global impact. Through structured skill-building programs, deep partnerships with academia, systematic knowledge transfer, and immersive, hands-on delivery models, the hub is creating a future-ready Saudi workforce fully aligned with Vision 2030 and capable of serving both national and international priorities.

Driving enterprise transformation 

The ITC Infotech hub aims to enable transformation rather than simply deploy technology. By driving AI adoption, accelerating digital engineering, and building cloud-native ecosystems, ITC Infotech seeks to help businesses:

  • develop new business models to meet evolving market needs.
  • improve operational efficiency through predictive insights and automation.
  • support sustainability goals by optimizing resources and reducing risks.
  • build a skilled local workforce capable of leading future innovations.

These outcomes support enterprises as they transition to more resilient, data-driven, and digitally mature operating models.

The road ahead

ITC Infotech is a wholly owned subsidiary of ITC Limited, one of India’s largest conglomerates, with over 25 years of experience as a trusted technology services partner to enterprises globally. The company focuses on next-generation enterprise transformation, delivering services across infrastructure and application modernization, cloud, cybersecurity, digital engineering, and AI-led innovation.

As Saudi Arabia continues its digital journey, ITC Infotech’s combination of global expertise, strong local presence, and collaborative delivery model positions it as a long-term partner in advancing Vision 2030. ITC Infotech’s hub in Riyadh reflects this commitment, bringing advanced capabilities closer to customers, investing in local talent, and enabling enterprises to adopt AI at scale as they compete in an increasingly digital world.