Package 1 was the park's first private real estate investment: a SAR4bn fund for a parcel of more than 290,000 m² in District One, managed by Saudi Fransi Capital with Naif Alrajhi Investment as developer and master lessee. Its best-known piece is the first TRIBE hotel (250 rooms) and TRIBE Living (150 apartments) in Saudi Arabia, signed with Accor in December 2024. The package also plans offices, retail, restaurants, a school and community facilities. The wider residential count is not disclosed, and no handover dates have been published.
How we count this
Package 1 is one of four deals we can name behind the Foundation's 'five major packages' (over SAR20bn, MIPIM, March 2026). Its SAR4bn is a fund size, so it is not comparable with the contract-style values of Packages 4 and 5. The 150 homes are the TRIBE Living apartments only; the rest of the package's residential count is undisclosed. MEED (September 2026) says one private package is on site and does not name it.
Key facts
| Package 1 fund | SAR 4 billion (about $1.1bn) Al EqtisadiahSep 2023Eye of Riyadh / SPASep 2023 Size of the real estate development fund for the first land parcel, announced September 2023. A fund size, not a construction cost. · as of Sep 2023 |
|---|---|
| Homes disclosed |
150 TRIBE Living apartments
AccorDec 2024Hospitality Net / AccorDec 2024
Only the TRIBE Living serviced apartments are disclosed. The package's wider residential count is not. · as of Dec 2024
|
| Hotel keys (TRIBE) |
250 rooms
AccorDec 2024Hospitality Net / AccorDec 2024
TRIBE Riyadh King Salman Park, operated by Accor. The only operator named for any package. · as of Dec 2024
|
| Land area |
More than 290,000 m²
AccorDec 2024Al EqtisadiahSep 2023
Site area of the first investment parcel (land, not floor area). · as of Sep 2023
|