Mulkia manages the Saudi-domiciled, Capital Market Authority-regulated fund for Package 5. The Foundation contributes the land, and private partners and local banks provide capital and development.
Investment packages
Timeline
10 Mar 2026Investment
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.