Arab News
Arab news,
Thu, Oct 02, 2025 | Rabi al-Thani 10, 1447
KAFD and RCRC sign agreement to launch first phase of Riyadh Creative District
Saudi Arabia:
The first phase of the Riyadh Creative District is
set to take shape after the King Abdullah Financial District Development and
Management Co. signed a lease agreement with the Royal Commission for Riyadh
City.
Under the deal, RCRC will lease three landmark
buildings within KAFD to host RCD’s initial operations, positioning the district
as a hub for media, cultural, and creative technology enterprises.
The initiative supports Vision 2030 objectives to
transform Riyadh into a global center for innovation and culture. Launched under
the patronage of Crown Prince Mohammed bin Salman, RCD seeks to unite Saudi and
international talent to drive content creation, cultural exchange, and economic
diversification.
Mohammed Al-Sudairy, acting CEO at KAFD DMC, said
the agreement “highlights KAFD’s commitment to shaping the industries of
tomorrow.”
He added: “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.”
Mazen Tammar, vice president of City
Marketing and Investment Promotion at RCRC, noted that hosting RCD’s first phase
in KAFD “reflects our shared vision of building Riyadh into a world-leading
destination for creativity and innovation.”
He emphasized that the initiative “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.”
The RCD was launched in February by the RCRC board
of directors and has already begun attracting international institutions.
Earlier this year, Italian fashion school
Instituto Marangoni inaugurated its Riyadh campus within the district, marking a
key milestone in the project's development.