King Salman International Airport, wholly owned by the Public Investment Fund (PIF), has signed seven memoranda of understanding (MoUs) with local real estate developers to build mixed-use real estate projects within the airport’s boundaries in Riyadh.
These MoUs were signed with Retal, Osus Sumou Holding, Kinan, Ajdan, Urjuan and Mohammed Al-Habib Investment during the fourth edition of the PIF Private Sector Forum 2026, held this month in Riyadh.
The move is part of the airport’s efforts to develop a portfolio of mixed-use real estate projects within its borders, boosting high-quality real estate investment in the Kingdom, the Saudi Press Agency reported.
The airport’s master development area spans about 57 square kilometres (sq km), of which nearly 12 sq. km. are allocated for real-estate development. This provides extensive opportunities to deliver integrated mixed-use urban projects, including residential communities, commercial and entertainment centres, office spaces, and hospitality facilities.
King Salman International Airport acting CEO Marco Mejia said that the seven partnerships reflect the airport’s ambitious vision to transform into an integrated urban and economic ecosystem that goes beyond the traditional concept of airports.
He noted that collaboration with national developers will help deliver high-quality projects, create sustainable economic value, and further position the airport as a leading investment hub.
The airport’s development scope also includes integrated economic and logistics zones covering approximately 3 million square metres (sqm).
“The KSIA Master Plan encompasses an integrated vision that includes six runways, additional passenger terminals, and advanced infrastructure. It also extends to the development of the surrounding areas to drive commercial growth and enhance the quality of life, unlocking exceptional future opportunities for the airport,” Ahmed Alhazza, Director Airport Strategy, King Salman International Airport Development Company (KSIADC) was quoted as saying at the PIF Private Sector Forum.
Located on the current site of King Khalid International Airport in Riyadh, the project will include the existing King Khalid terminals, three new terminals, residential and leisure assets, six runways, and logistics facilities.
The airport is designed to accommodate up to 100 million passengers annually and handle more than two million tonnes of cargo by 2030.
In May 2025, Bechtel was appointed delivery partner for KSIA’s three new terminals – a terminal for commercial carriers, Terminal 6 for low-cost carriers, and a new private aviation terminal with hangars. The firm is also tasked with achieving LEED Platinum certification for all three terminals.
The same month, Parsons was awarded awarded two Delivery Partner (DP) contracts by KSIADC for first, airfield assets and includes the runways, taxiways, aircraft parking areas, and air traffic control towers, and second, for landside infrastructure packages including roads, utilities, tunnels, bridges, rail network, and landscaping.
The KSIA Master Plan was announced Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister and Chairman of the Council of Economic and Development Affairs (CEDA) in November 2022.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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