King Abdullah Financial District (KAFD) Guide: Development, Location, Commercial, Residential, and More

Saudi Arabia has been heading toward a bold transformation under its world-renowned Vision 2030 initiative, hoping to reshape its economy and position itself as a global powerhouse. King Abdullah Financial District (KAFD) stands at the heart of this ambitious project, inspired by King Abdullah’s vision to create a new financial district that will take the economy of Riyadh to new heights. It also heavily emphasises innovation and sustainability

The project was launched in 2007 by the local Al Ra’idah Investment Company on behalf of the Pension Authority of Saudi Arabia. Initially, the development was funded by the Saudi Binladin Group, but it has since been acquired by the Saudi Public Investment Fund (PIF).

The KAFD project, which is still under development, has already reached many major milestones. By redefining urban development, it will change the dynamics of Riyadh.

This article will give you a simple overview of the King Abdullah Financial District and its vision to create a new ecosystem for modern business, lifestyle, and innovation in the capital city of Saudi Arabia. 

About King Abdullah Financial District (KAFD)

KAFD is a major mixed-use development located in the heart of Riyadh, Saudi Arabia. It is accessible via three main access points, including Northern Ring Road, King Fahd Road, and Thumama Road. It is the largest mixed-use financial centre in the Middle East.

Spanning a total land area of 1.6 million square meters and offering a total Gross Floor Area (GFA) of 3.2 million square meters, KAFD is designed by more than 25 of the world’s most prominent architects and design firms, including Foster + Partners, Henning Larsen Architects, and Gensler. UK-based studio Zaha Hadid Architects designed the district’s metro station.

Status and Progress of KAFD in 2025

As of 20203, the project is 40% complete, with 95 buildings completed, including 64 towers for residential use and office. This is in addition to the spaces allocated for commerce, leisure, and hospitality.

The development features 2,900+ residential units, 6,100+ five-star hotel keys, and branded apartments accommodating around 12,500 residents currently.

Recent updates for 2025 have not been publicly announced or made available. However, some notable future expansion plans include adding 1 million square meters of office space, 130,000 square meters of retail space, and 1,000 apartments.

Transportation Infrastructure

The KAFD metro station, designed exclusively by Zaha Hadid Architects, became operational in December 2024. It has enhanced connectivity within the district and to the broader city.

There is another 3.5 km monorail with six stations under development. It aims to provide efficient intra-district transit.

Sustainability and Smart City Initiatives

KAFD is recognised as the world’s largest LEED platinum-certified mixed-use business centre, which reflects its commitment to sustainable development.

In early 2025, KAFD also partnered with Huawei to enhance its initiatives in smart city innovations and AI technologies, with a mission to improve the district’s digital infrastructure and services.

Recent Developments

The KAFD fire station, completed in 2025, is the first in the world to achieve LEED Platinum v4 certification, reflecting cutting-edge design and sustainability standards.

According to announcements made in early 2025, the KAFD phase 03 involves a $2.6 billion investment in expanding office towers, retail spaces, and establishing a fintech innovation centre, which can help further enhance Riyadh's position as a financial hub.

KAFD spans over 1.6 million square meters of land and is home to some of the tallest buildings in Riyadh, including the PIF Tower, which is the tallest building in the district.

Inspired by King Abdullah’s Vision to build a dynamic city of the future, KAFD is the largest LEED-ND Stage 2 platinum-certified project in the world. This recognition makes it a prime example of a sustainable city solution on a global scale. It also highlights the unique architectural designs and integrations that are inspired by the local environment and highly efficient energy consumption, which focuses on conserving and recycling natural resources.

This city within a city has not only redefined Riyadh’s skyline but also transformed the economic landscape in the region and the approach towards urban living. 

KAFD is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC), which is a wholly owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia.

The vision behind KAFD is to create an iconic destination that merges the worlds of business and lifestyle in a digitally integrated and sustainable ecosystem, transforming the way modern communities live, work, and play. 

The district features five asset classes, including offices, retail/F&B, residential, hotels, and entertainment, which are designed to create a balanced and dynamic environment in Riyadh. 

Three Themes of the King Abdullah Financial District (KAFD) 

There are three main themes guiding the KAFD project:

1. Envision 

This theme focuses on shaping the future by creating a forward-thinking business and financial ecosystem that supports global companies and innovation. Here are the principles guiding the theme of “Envision”

A New Standard for Smart Cities

KAFD focuses on creating a smart city that represents new standards for innovation. It involves district automation, rollout of city management solutions, and continuous enhancement of operational efficiency. 

Initiatives guiding the KAFD mission of a smart city include data centers, cutting-edge digital infrastructure, and artificial intelligence applications.

Committed to Sustainability

Sustainability is at the core of KAFD urban planning, and all future initiatives are aimed at promoting innovation and green-friendly concepts. 

From the initiation of the project, the KAFD management team has always reflected on their environment, social, and governance responsibilities. The project has already reached many major milestones in terms of sustainable development. 

Some of the notable green practices in KAFD include greenifying the district, deployment of an automated waste management system, and LEED certifying the buildings. 

The Future of Business

KAFD welcomes a diverse set of industry clusters, all converging in one destination. It offers an unparalleled networking environment for economic powerhouses and business leaders to thrive and keep up with rapid competition, aligning with KAFD’s goal of becoming a global business hub under Saudi Vision 2030.

The Future of Lifestyle 

The KAFD theme “Envision”  presents this development as a destination that offers a 24x7 eco-system featuring stunning residential towers, outstanding hotels, advanced office spaces, exclusive retail and F&B experiences, and unique entertainment facilities. 

The goal behind KAFD is to make it a destination that redefines how the community lives, works, and plays by supporting a lifestyle with enhanced convenience and personalised accessibility.

KAFD is designed to rival global financial districts like Wall Street and Canary Wharf, with its modern infrastructure and mixed-use development, positioning Riyadh as a key financial hub, and aligning with Saudi Arabia's Vision 2030. 

2. Accelerate

The theme “Accelerate” behind KAFD focuses on driving rapid business growth and economic development by integrating world-class infrastructure,  cutting-edge technology, and a competitive business environment. 

KAFD maintains a well-designed ecosystem of offices, retail, and event spaces to accelerate business operations and growth. It features a dedicated financial plaza, advanced IT facilities, and a dynamic network, providing a convenient interconnected hub for the region’s professional community.

Soon to be connected with Riyadh’s metro system,  KAFD maintains an array of logistical infrastructure, providing easy accessibility to customers, clients, and suppliers. 

KAFD is also undergoing initiatives to include an extensive multi-modal system, which will feature public bus shuttle services, internal pedestrian walkways, a cycle network, skywalks, and a monorail infrastructure under development.

3. Live 

The theme “Live” behind King Abdullah Financial District promotes a balanced and vibrant lifestyle with modern residential spaces, cultural experiences, entertainment options, and sustainability concepts, improving the convenience and quality of life for residents and visitors alike. 

KAFD caters to a diverse lifestyle, offering something for everyone to experience and enjoy. 

From diverse culinary cuisines and fine-dining restaurants to concerts, recreational activities, fashion shows, art installations, and cultural and national day celebrations, KAFD offers a fully interactive atmosphere that provides a fresh perspective on modern living.

Key Landmarks in KAFD 

Al Wadi in KAFD is a stunning public space that replicates a desert valley, featuring flowing landscapes, open spaces, and retail areas, creating a tranquil and dynamic environment that blends nature with modern architecture.

The Wadi

It is a landmark designed by taking inspiration from Riyadh’s desert valley. The Wadi is an open public space that is used for pop-up activations and retail offerings. It is built 5.5 meters below street level and features naturally cool airflows, offering a comfortable experience for passersby and participants.  

The KAFD Grand Mosque is a prominent mosque located within the King Abdullah Financial District that can accommodate 1,400 worshippers.

KAFD Grand Mosque

Located in the midst of KAFD’s skyscrapers, the KAFD Grand Mosque is inspired by the desert rose, which is native to the Arabian Peninsula. This representation is evident in the mosque’s unique geometric structure, with no columns holding the roof up. 

When seen from the ground level, the structure of the mosque appears as if it is emerging from the earth. The roof takes the shape of a rose that is in full bloom when it is viewed from the top. 

The mosque features two sculpted 60-meter minarets and can accommodate 1,400 worshippers. The interiors of this landmark feature dominant triangular designs that are maintained throughout KAFD,  using triangular windows and ceilings. 

PIF Tower is currently the tallest building in Riyadh, standing at a height of 385 meters. It surpasses other notable skyscrapers in the city, including Burj Rafal (307.9 meters), KAFD World Trade Center (304 meters), and Kingdom Centre (302.3 meters).

PIF Tower

This landmark in the King Abdullah Financial District draws inspiration from the crystals found in the Wadis of Saudi Arabia. Standing at a height of 385 meters, the PIF Tower is the tallest building in Riyadh. 

As with all other areas of KAFD development, the PIF tower integrates sustainability concepts into its design. The tower features a distinctive transparent exterior, allowing natural light to flow inside, with a high-performance solar control system maintaining temperatures from intense heat and light. 

The design is also complemented by external layers of fins, gantries, and perforated panels providing shade, amplifying the thermal efficiency of the triple-pane unitised glazing. 

Together, these concepts minimises solar gain and allow internal cooling loads, reducing the requirement for HVAC to a great extent. The PIF tower reclaims electrical energy through a photovoltaic array installation on the tower's roof.

KAFD Conference Center is designed with sustainability in mind, featuring energy-efficient systems and innovative architecture that blends seamlessly with the surrounding urban landscape, reflecting Riyadh’s ambition to become a global leader in sustainable development.

KAFD Conference Center

This landmark in the King Abdullah Financial District is designed to replicate and keep up with Saudi Arabia’s desert landscape. 

The KAFD Conference Center maintains a distinctive, bold structure, with an organic, faceted profile that connects the building to its surrounding landform. It is one of the largest conference centers in Riyadh, covering an area of 28,000 square kilometers.

Blending functionality with aesthetic excellence, the KAFD Conference Center has multi-purpose venues, including a 600-seater auditorium with full lecture, cinema support, multiple executive boardrooms, a banquet hall, striking vertical gardens, and several outdoor plazas. 

The KAFD Financial Plaza, designed by Henning Larsen Architects, is defined by six of the tallest and most iconic towers in the King Abdullah Financial District. This includes the tallest skyscraper in Riyadh, making it a standout landmark in the city's skyline. 

The Financial Plaza

The financial plaza in King Abdullah Financial District is defined by six of the tallest and most iconic towers in the region. It covers 430,000 square kilometres of office space and is reserved for financial institutions, including banks and funds. 

At the ground level of the financial plaza, there are four fans that define the recognisable signature feature of the landmark. It also features exclusive dining, retail options, and a designated area for networking for occupants and visitors. 

Waste Management at KAFD: The Largest Installation in the Middle East Region

KAFD doesn’t have traditional waste management methods where waste is manually collected and placed in compactors for them to be collected via trucks. KAFD waste management uses Envac’s flexible system that is connected to all areas in the district.

There are 160 waste inlets that collect waste from two different fractions, general and recyclables. Besides this, the waste is also collected from 16 public litter bins from the Wadi pedestrian boulevard.

Approximately 140 tonnes of waste are collected daily and transported through the underground vacuum pipes to the collection terminal. The collected waste is then stored in sealed containers, which are removed from the site once they are full.

Key Highlights of the King Abdullah Financial District (KAFD)

Featuring angular, triangular patterns and modern architectural design, the geometric walls of KAFD embody the district’s bold architectural identity. The textured surfaces reflect light and shadow throughout the day, emphasizing KAFD’s futuristic aesthetic and its commitment to sustainable, contemporary urban development.

KAFD: Creating the City of the Future 

King Abdullah Financial District is a strong reflection of Saudi Arabia’s initiatives to create a forward-thinking country under Vision 2030.

By redefining the way we approach modern lifestyle, work, entertainment, and innovation, KAFD is not only shaping the future of Riyadh and urban development but will also position itself as a global financial hub. 

KAFD is still under development, with different phases being rolled out over time. Some areas are already operational, and the full completion will be finalised by 2027-2030. The timeline for completion aligns with the border goals for Saudi Vision 2030.