Saudi Arabia calls for regional cooperation to tackle environmental challenges 

Mansour Al-Mushaiti speaking at the 26th meeting of Gulf Cooperation Council ministers responsible for environmental affairs in Qatar
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Updated 11 September 2024
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Saudi Arabia calls for regional cooperation to tackle environmental challenges 

RIYADH: Regional and international cooperation is pivotal in addressing environmental challenges, especially in rehabilitating degraded lands, according to Saudi Arabia’s vice minister of environment, water, and agriculture. 

Speaking at the 26th meeting of Gulf Cooperation Council ministers responsible for environmental affairs in Qatar, Mansour Al-Mushaiti emphasized that collaboration is essential to strengthen the resilience of drought-prone communities, as reported by the Saudi Press Agency. 

The Kingdom is leading environmental protection efforts in the region through the Saudi Green Initiative, which aims to protect 30 percent of the nation’s land and marine areas by 2030. 

Saudi Arabia’s National Environment Strategy provides a framework focused on conserving biodiversity, preventing land degradation, and advancing global coral reef research. 

During the meeting, Jasem Mohamed Al-Budaiwi, secretary-general of the Gulf Cooperation Council, noted that environmental protection and addressing climate change impacts have become core priorities for countries in the region. 

“On the international front, collective cooperation to address climate change and other environmental challenges has become essential among all countries, with GCC states actively contributing to global cooperation and providing solutions to mitigate the effects of climate change while preserving the environment,” Al-Budaiwi said in a statement. 

He added that GCC nations are working to enhance environmental policies, promote renewable energy, and reduce carbon emissions to strike a balance between development and environmental preservation. 

Saudi Arabia’s Al-Mushaiti urged GCC nations to ratify the Middle East Green Initiative Charter and set national targets for tree planting and land rehabilitation. He also called for greater support from national development funds for vegetation projects across the region. 

In May, Saudi Arabia committed $2.5 billion to the Middle East Green Initiative to further environmental sustainability across the region. 

Al-Mushaiti also noted that the upcoming COP16 in Saudi Arabia this December will play a significant role in advancing international efforts to reduce land degradation and combat drought. 

Earlier this month, during the 10th Regional Forum of the International Union for Conservation of Nature for West Asia, Saudi Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadhli highlighted the Kingdom’s environmental progress through the National Environment Strategy and the Saudi Green Initiative. 


Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

Updated 10 March 2026
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Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.

According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.

Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.

A $3 billion metro-connected district

The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters. 

It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.

The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.

Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.

“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation. 

$850 million cultural district package

In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.

The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.

“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.

Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.