Naif Alrajhi Investment is the developer and master lessee of Package 1 in District One, the park's first real estate investment, announced in September 2023 with a SAR4bn fund. It signed with Accor in December 2024 to bring the first TRIBE hotel and TRIBE Living apartments to Saudi Arabia.
Investment packages
Timeline
10 Sep 2023Investment
First real estate fund: SAR 4bn for District One
The Foundation, Naif Alrajhi Investment and Saudi Fransi Capital launched a SAR 4bn fund for the first private parcel, over 290,000 square metres. This became Package 1.
Dec 2024Investment
Accor and Naif Alrajhi sign the first TRIBE hotel in Saudi Arabia
The Package 1 hotel will have 250 rooms, with TRIBE Living adding 150 apartments. It was announced on 23 December 2024 and is the first TRIBE in the Middle East.