Package 4 is a mixed-use, residential-led project in the Cultural District led by Retal Urban Development with Asasat (Saudi Arabia) and Bareeq Al-Retaj (Bahrain), through a fund managed by SAB Invest. It is valued at SAR3.2bn (about $850m) and plans more than 600 homes, more than 140 hotel keys, about 50,000 m² of Grade A offices and curated retail and dining. It was announced at MIPIM on 10 March 2026. The hotel operator and handover dates have not been named.
How we count this
Counted as one of the 'five major packages' announced by March 2026. MEED (28 September 2026) reports one package awarded, one more near award and three in design, and names Package 4 in the same coverage without saying which one it counts as awarded; that is a different counting basis from the MIPIM total. The award date is also reported two ways: 10 March 2026 (Retal's disclosure) and November 2025 (a separate release that says agreements were still pending). One research file swapped the Package 4 and 5 figures; Package 4 is SAR3.2bn and 600+ homes.
Key facts
| Package 4 value | SAR 3.2 billion (about $850m) MEEDSep 2026Arab NewsMar 2026Kirkland & EllisMar 2026 Value of the Retal-led project as reported in March 2026 and September 2026. · as of Mar 2026 |
|---|---|
| Homes planned |
More than 600
MEEDSep 2026Arab NewsMar 2026
Residential units planned. · as of Mar 2026
|
| Hotel keys planned |
More than 140
Arab NewsMar 2026
Hotel keys planned. Operator not named. · as of Mar 2026
|
| Grade A offices planned |
About 50,000 m²
MEEDSep 2026Arab NewsMar 2026
Grade A office area planned. · as of Mar 2026
|
When was Package 4 awarded?
We show 10 March 2026 as the announcement date and note November 2025 as an earlier reported award, with both sources.
Why figures differ →