King Salman International Airport, fully funded by the Public Investment Fund (PIF), has signed seven memorandums of understanding (MoUs) with local real estate developers to build mixed-use real estate projects on the airport grounds in Riyadh.
These memorandums were signed with Letal, Ossu Sumou Holding, Kinan, Ajdan, Urjuan and Mohammed Al-Habib Investment during the 4th PIF Private Sector Forum 2026 held in Riyadh this month.
The move is part of the airport’s efforts to develop a portfolio of mixed-use real estate projects within the airport’s borders to promote high-quality real estate investments within the kingdom, the Saudi Press Agency reported.
The airport’s main development area covers approximately 57 square kilometers (sq km), of which almost 12 sq km. Assigned to real estate development. This provides a wide range of opportunities to realize integrated mixed-use urban projects, including residential communities, commercial and entertainment centres, office space and hospitality facilities.
Marco Mejia, Acting Chief Executive Officer of King Salman International Airport, said the seven partnerships reflect the airport’s ambitious vision to go beyond the traditional airport concept and transform into an integrated urban and economic ecosystem.
He said that cooperation with the country’s developers will help deliver high-quality projects, create sustainable economic value and further position the airport as a major investment hub.
The airport’s development scope also includes an integrated economic zone and logistics zone covering approximately 3 million square meters (sq m).
“The KSIA Master Plan includes an integrated vision that includes six runways, an additional passenger terminal and advanced infrastructure. It also extends to the development of the surrounding area to drive commercial growth and improve quality of life, opening up excellent future opportunities for the airport,” Ahmed Alhaza, director of airport strategy at King Salman International Airport Development Company (KSIADC), was quoted as saying at the PIF Private Sector Forum.
Located on the current site of Riyadh’s King Khalid International Airport, the project includes the existing King Khalid Terminal, three new terminals, residential and leisure facilities, six runways, and logistics facilities.
The airport is designed to accommodate up to 100 million passengers a year and handle more than 2 million tonnes of cargo by 2030.
In May 2025, Bechtel was appointed delivery partner for three new terminals at KSIA: a commercial airline terminal, a low-cost airline terminal 6, and a new commercial aviation terminal with hangar. The company is also tasked with achieving LEED Platinum certification for all three terminals.
In the same month, Parsons won two Delivery Partner (DP) contracts from KSIADC. The first was airfield assets, including runways, taxiways, aircraft parking areas, and air traffic control towers, and the second was a land infrastructure package, including roads, utilities, tunnels, bridges, rail networks, and landscaping.
The KSIA Master Plan was announced in November 2022 by Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister and Chairman of the Council for Economic and Development Affairs (CEDA).
(Written by P Deol, Edited by Anoop Menon)
(anoop.menon@lseg.com)
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