https://arab.news/5syaq
RIYADH: 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鈥檚 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 鈥渉ighlights KAFD鈥檚 commitment to shaping the industries of tomorrow.鈥�
He added: 鈥淏y bringing together creative thinkers, business leaders, and cultural institutions in a single destination, we are opening doors for emerging talent and advancing Riyadh鈥檚 status as a global hub for creative and cultural innovation.鈥�
Mazen Tammar, vice president of City Marketing and Investment Promotion at RCRC, noted that hosting RCD鈥檚 first phase in KAFD 鈥渞eflects our shared vision of building Riyadh into a world-leading destination for creativity and innovation.鈥�
He emphasized that the initiative 鈥渨ill empower the creative community, nurture local creative talent, attract global partners, and advance Riyadh鈥檚 role as a cultural and economic hub in line with Vision 2030.鈥�
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.