The Foundation owns and is delivering King Salman Park, and will operate it once it opens. Its board is chaired by Crown Prince Mohammed bin Salman. The Saudi Press Agency reported on 11 October 2026 that Dale Chadwick had been appointed chief executive, after he was described as acting CEO from September; George Tanasijevich had led the Foundation since December 2022, and his exit was reported on 30 July 2026 with no reason given. As of November 2026 its team of about 230 to 240 has moved from KAFD into the park's operations and maintenance building (MEED), and no asset has opened yet.
What it works on
Abu Bakr Al-Siddiq Road Tunnel
King Salman Park Founda…Feb 2024Timeline
King Salman Park is launched
King Salman launched the park on 19 March 2019, one of four Riyadh projects announced together under Vision 2030. The Foundation runs it, under the Royal Commission for Riyadh City.
2019 plan: construction to begin in the second half of 2019
At the launch, the Foundation said work on the four projects would start in the second half of 2019. Construction in fact began in the third quarter of 2021.
First major contracts: about USD 1bn (SAR 3.85bn)
The Foundation awarded SAR 3.847bn of work for site preparation, tunnels and bridges on Abu Bakr Al-Siddiq and Al Urubah roads, and groundwork for the Royal Arts Complex. This marks the real start of construction.
Visitor Centre construction starts
The Foundation awarded the building contract to a national company and began work on the 90,000 square metre Visitor Centre, designed by David Adjaye with rammed-earth walls.
Royal Arts Complex construction launched
The Foundation's board, chaired by the Crown Prince, launched construction on the Royal Arts Complex, more than 500,000 square metres with a museum, theatre, library, cinema and institute for traditional arts.
George Tanasijevich appointed CEO
The Foundation's board appointed George Tanasijevich chief executive in December 2022.
First real estate fund: SAR 4bn for District One
The Foundation, Naif Alrajhi Investment and Saudi Fransi Capital launched a SAR 4bn fund for the first private parcel, over 290,000 square metres. This became Package 1.
Saudi Tabreed signs a 25-year district cooling agreement
The Foundation signed a 25-year build-own-operate-transfer agreement for 60,000 refrigeration tonnes, with 20,000 allocated to the first phase.
Abu Bakr Al-Siddiq tunnel completed and opened to traffic
The Foundation announced the 2,430 metre tunnel complete on 28 February 2024, with vehicles using it from 29 February. It was the first of the park's bridge-and-tunnel works to finish.
Royal Arts Complex reported 48% complete
A Foundation executive told MEED that structural works on the complex were done and construction was 48% complete. More than 13 million cubic metres of soil had been excavated.
Al-Orouba tunnel eastern route opens
The 2,150 metre Al-Orouba tunnel was completed in July 2024, with the eastern route opening to traffic. The exact day is garbled on the Foundation page.
Park valued at USD 9.4bn by Knight Frank
AGBI reported a July 2024 Knight Frank valuation of USD 9.4bn. It is a valuation of the development, not a construction cost.
Early reporting: completion in 2024-25
Early reporting pointed to completion around 2024-25. That target was not met. Later timelines moved to a phased opening from late 2026 and substantial completion in 2027.
Parsons appointed for project management office services
Parsons won a 25-month contract covering delivery strategy, design supervision, construction management and smart-city work, and acts as Engineer of Record for Packages 1 and 2.
Ajdan and SEDCO Capital launch a USD 1bn mixed-use fund
The SAR 3.8bn fund covers 106,000 square metres on Oruba Road beside the Royal Arts Complex, with 600+ homes and 45,000 square metres of offices. The National reported it on 17 November and AGBI on 18 November.
MIPIM 2026: Packages 4 and 5 announced, over USD 3.8bn of new commitments
Package 5 is led by Kolaghassi (SAR 11bn, about 3,700 homes). Package 4 is led by Retal (SAR 3.2bn, 600+ homes). The Foundation counts over SAR 20bn across five packages. Reports differ on whether the Retal award was completed in November 2025 or March 2026.
Retaining walls complete: 17 km of local stone
The Foundation announced the retaining walls finished: 17 kilometres, built with 122,500 tonnes of local Riyadh stone, shaping the wadis, hills and plateaus.
FIABCI World Prix d'Excellence 2026: Sustainable Development
Saudi reports say the Foundation won the silver award in the Sustainable Development category. One FIABCI page appears to list it among gold winners, so the medal level is unsettled.
Smart operations and maintenance building reported complete
Sabq reported the 35,000 square metre building complete in June 2026. In September it became the Foundation's interim home inside the park.
CEO exit reported
EnterpriseAM, citing unnamed sources, reported that George Tanasijevich was leaving and Dale Chadwick would take over. No reason was given.
Foundation and Huawei sign an MoU on an AI-powered smart park
The two-year MoU covers AI, smart-city platforms and digital infrastructure pilots. The exact signing date is not confirmed; the first report found is from about 2 September 2026.
Foundation opens interim headquarters inside the park
About 230 to 240 staff moved from KAFD into the operations and maintenance building in the park. A permanent headquarters is still to come.
Acting CEO outlines a phased soft opening
Dale Chadwick told MEED's conference that some landscaped areas could open soon, but a 12 square kilometre park needs a process first. The opening plan was going to the board, with announcements to follow. No date or first area has been named.
23 expressions of interest in private assets
MEED reported 23 developer expressions of interest. One private package is on site, one is near award and three are in design.
Phase 3 to be replanned; golf course to be replaced
MEED reported that Phase 3 is being replanned and the golf course once planned there will be replaced so the site can be commercialised. The replacement use is not stated.
Planting season restarts: about 4 million plants this year
Landscaping restarts at 50,000 to 60,000 plants a day. A temporary water plant is producing about 50,000 cubic metres a day, and 95% of Phase 1 and 2 contracts are awarded.
Phased opening targeted for late 2026
ArchDaily reported in February 2026 that initial phases were expected in late 2026. Art Park was named as the first zone, but that has not been reconfirmed since September 2026. No asset is open and no date is announced.
Dale Chadwick appointed CEO
The Saudi Press Agency announced Dale Chadwick as CEO after he served as acting CEO from September. He has more than 30 years in construction and development. The reason for his predecessor's exit is not stated.
RCRC CEO speaks at the 37th Government Press Conference
Ibrahim Al-Sultan said the 17 million square metre park is progressing, large parts of Phase 1 infrastructure are complete, and planting continues. No opening date was given.
Royal Arts Complex handover to the Ministry of Culture expected
MEED reported on 30 September 2026 that handover is due within three to six months, so between December 2026 and March 2027. No handover has been announced yet.
Substantial completion targeted for 2027
ArchDaily reported that substantial completion is targeted for 2027, with full completion later. Residential and hotel handover dates have not been published.
Full completion targeted for 2030
Gerber Architekten told Arab News in October 2025 that the park should be complete by 2030, with some areas ready sooner.
2019 plan: full completion reported as 2040
Arabic press coverage of the 2019 launch gave 2040 for full completion. Later official timelines do not repeat it and now point to 2027 for substantial completion and 2030 for full completion.