Riyadh, Saudi Arabia
Riyadh's title register is closed — a deed is a document its holder verifies on Najiz, not a record the public can search — and the 2025 law that opened designated zones to foreign buyers from January 2026 runs through that same closed registry, so the owners named here are the sovereign fund's companies and the listed developers that say so in their own filings.
8 buildings · 6 with an owner established · 23 sources · 6 tier A · 2 tier C · prepared 2026-10-06
Can you find out who owns it?
Title in Saudi Arabia is an electronic deed (صك) issued and verified through the Ministry of Justice's Najiz portal, and is being migrated into the Real Estate Registry kept by the Real Estate General Authority (REGA). Neither is a public register: Najiz puts every deed service behind login, and REGA's 'Property Enquiries' service is a per-property lookup for an applicant who already holds the identifier, with no name search and no bulk file. Who may own at all changed on 22 January 2026, when the Law of Real Estate Ownership and Investment by Non-Saudis (Royal Decree M/14 of 19/1/1447H, 25 July 2025) took effect: non-Saudi individuals, companies and funds may now acquire property and rights in rem inside geographical zones that the Council of Ministers endorsed with the implementing regulations in mid-2026; the zones include specified areas of Riyadh, are published as a map on REGA's portal, and carry a 2% REGA fee on non-Saudi disposals in the Riyadh, Jeddah, Makkah and Madinah zones on top of the general 5% real estate transaction tax. Ownership takes effect only on registration in REGA's registry. Transaction data is published in aggregate — REGA's Real Estate Indicators platform and the Ministry of Justice's SREM index — never per deed, and neither host can be reached from outside the Kingdom.
Is ownership public?Not public
Cost of one title searchNot available at any price
Bulk ownership dataNone published
Sale pricesAggregates only — no individual sales
1
The marquee buildings
The towers that set the tone of the core, and who holds them. A price is the price a document states, on the date it states — not an estimate of what the building is worth now.
| Building | Use | Owner | Owner type | Last price paid |
|---|---|---|---|---|
| Kingdom Centre (برج المملكة) King Fahd Road, Al Olaya |
Mixed use | Trade Centre Company Limited (TCCL), a Kingdom Holding Company subsidiary KHC owns 89.8% of Kingdom Investment and Development Company, which 'owns controlling majority shares' of TCCL KHC's Integrated Annual Report 2025 (Tadawul-listed; subsidiaries table): Trade Centre Company Limited (TCCL), 'established as a limited liability company with a capital of SAR 1,000,000,000 in 1998. It is the owner of Kingdom Center in Riyadh, including the Kingdom Tower and the Kingdom Market, in addition to the Four Seasons Hotel Riyadh.' TCCL sits under Kingdom Investment and Development Company (KHC 89.8% in 2025 and 2024). The report also calls it 'Kingdom Centre, Riyadh's iconic office tower and luxury retail destination' and dates its opening to 2002; PIF held approximately 16.9% of KHC. No acquisition price exists — the group built it. Floors are not stated. |
Public company | —A |
| King Abdullah Financial District (KAFD) King Fahd Road, Al Aqiq 1.6M+ sqm total land area; 95 office towers |
Mixed use | King Abdullah Financial District Development and Management Company (KAFD DMC), acquired by the Public Investment Fund in 2018 KAFD DMC's release of 15 June 2026: 'King Abdullah Financial District Development and Management Company (KAFD DMC), the developer and operator of Riyadh's premier business and lifestyle destination, has secured a SAR 12 billion, 15-year, senior-secured Murabaha facility' — confidence 'built steadily over KAFD's eight-year transformation since its acquisition by the Public Investment Fund (PIF) in 2018'. The 'KAFD at a glance' page gives 1.6M+ sqm total land area, 95 office towers and 45+ LEED-certified buildings. Towers are let and some sold to occupiers (PIF, the CMA, Tadawul and the large banks are named as tenants), so the district-level owner is recorded, not a per-tower title. |
Sovereign fund | —A |
| Kingdom City Residential Compound Thumamah Road at King Abdulaziz Road, Al Rabie |
Residential | Real estate investment fund affiliated with Alawwal Investment Company (Kingdom Holding Company a participant) KHC, 20 February 2024: 'Kingdom Holding Company announces the sale of the Kingdom City Residential Compound in the Al Rabie district of Riyadh to a real estate investment fund affiliated with Alawwal Investment Company for SAR 900 million. Kingdom Holding Company will participate in the new fund that will own the Kingdom City Residential Compound, and will announce its ownership percentage at a later date.' The compound 'comprises 384 residential units' near KAFD and ROSHN Front. KHC's 2025 annual report books the 2024 'sold compound' at SAR 981 million; neither document reconciles the two, so the announced price is recorded. KHC's fund stake was not found. |
Private company | SAR SAR 900 million 2024-02 KHC announcement, 20 February 2024: sale 'to a real estate investment fund affiliated with Alawwal Investment Company for SAR 900 million' A |
| The Mukaab / New Murabba New Murabba district, north-west Riyadh 19.2 million sqm site |
Mixed use | New Murabba Development Company, 'a Public Investment Fund company' New Murabba's institutional-investors page: 'A 19.2 Million sqm Canvas for Growth … As a Public Investment Fund company, New Murabba is a master developer shaping Riyadh's modern downtown at scale'; its about page: 'As a subsidiary of the Public Investment Fund, New Murabba spearheads Riyadh's transformation.' The Mukaab page describes the centrepiece as 'rising 400 metres in scale' with flagship retail, hotels and residential units. This is a site under development, so what is recorded is the master developer's ownership of the land it is building on; the master-plan page itself returned 404 and no unit, GFA or budget figures were readable. |
Sovereign fund | —A |
| SEDRA community North Riyadh, opposite the Expo 2030 site |
Residential | ROSHN Group, 'a Public Investment Fund (PIF) company' ROSHN's SEDRA page: 'Already a thriving community, SEDRA is one of Riyadh's most sought-after residential developments', 'situated in the desirable north of the city, just a fifteen-minute drive from the King Khalid International Airport and opposite the site of Expo 2030'; the fifth phase is on sale and the apartments page speaks of 'a thriving community with over a thousand families living there'. ROSHN is 'Saudi Arabia's leading multi-asset class real estate developer and a Public Investment Fund (PIF) company'. Homes are sold to buyers, so ROSHN's ownership is of unsold phases and the community's commercial and public assets, not of every house; no unit count is published. |
Sovereign fund | —A |
| ROSHN Front Airport Road at SEDRA, North Riyadh |
Mixed use | ROSHN Group, 'a Public Investment Fund (PIF) company' ROSHN lists ROSHN Front under 'By ROSHN Group' and describes it as 'one of the most vibrant mixed-use destinations in North Riyadh', with a Shopping Area and a Business Area of offices, 'cinemas, numerous upscale cafes and restaurants, major retail brands, and everyday convenience stores', and services 'for all visitors and tenants'. The page is a letting and marketing page: it establishes that ROSHN developed and lets the destination, which with ROSHN's self-description as a PIF company is the ownership recorded. No floor area, tenant count or valuation is stated on the page, and the destination's own site (roshnfront.sa) is Cloudflare-blocked. |
Sovereign fund | —A |
| Al Faisaliah Tower (برج الفيصلية) King Fahd Road, Al Olaya |
Mixed use | Not established the source would not open The complex's own site returns a Cloudflare challenge to every client, the operator Al Khozama's site returns a WordPress error, and the King Faisal Foundation's about page — which describes 'a wide portfolio of investments' funding its programmes — never names the tower. No listed-company filing opened here carries it, and the register is closed, so the owner is left blank rather than taken from the common description of the tower as a foundation asset. Floors are not asserted for the same reason. |
Not established | —C |
| Al Nakheel Mall Imam Saud Bin Abdulaziz Road, Al Nakheel |
Retail | Not established the source would not open Cenomi Centers (Arabian Centres Company, Tadawul-listed) is the only Riyadh mall landlord that publishes a portfolio with GLA, and both its portfolio and investor pages answer HTTP 429 'Vercel Security Checkpoint' to curl and to WebFetch; the Saudi Exchange, where its reports are also filed, is Akamai-blocked. A tier-C source cannot carry an owner, so the mall is recorded as not established with the host that would have answered. |
Not established | —C |
2
The core land
The most valuable ground in the city, and what the public record says about it.
Riyadh has no assessment roll and a closed deed register, and the two official transaction indices (REGA's indicators platform, the Ministry of Justice's SREM) are unreachable from outside the Kingdom, so the city's most valuable ground is measured by what GASTAT publishes as an index, what the 2025–26 foreign-ownership law prices a disposal at, and what the one listed owner of a core tower discloses about its own land.
Real estate prices, Riyadh Region, Q2 2026+4.2% year on year (Kingdom +1.3%)
GASTAT Real Estate Price Index Q2 2026 (base year 2023): Kingdom REPI +1.3% on Q2 2025 and +3.0% on Q1 2026; residential +2.6% (residential land +6.3%, apartments +1.1%, villas −9.7%), commercial −3.2% (25.4% weight), agricultural +11.3%; 'Riyadh Region recorded an increase in real estate prices by 4.2%'.
What a foreign buyer pays to sell2% REGA fee + 5% RETT in the Riyadh zone
Law of Real Estate Ownership and Investment by Non-Saudis, Royal Decree M/14 of 19/1/1447H (25 July 2025), in force 22 January 2026 (L&W; Pinsent Masons gives 21 January): a REGA fee of up to 5% on non-Saudi disposals, set by the implementing regulations at 2% within the Riyadh, Jeddah, Makkah and Madinah zones and 0% elsewhere, in addition to the general 5% real estate transaction tax (A&O Shearman, Greenberg Traurig).
Designated foreign-ownership zonesEndorsed by the Council of Ministers, mid-2026; map on REGA's portal
Greenberg Traurig: 'On 23 June 2026, the Council of Ministers approved the Implementing Regulations … and endorsed the geographic areas designated for non-Saudi property ownership'; A&O Shearman cites Council Decision No. 43 of 08/01/1448H (3 July 2026) and says the zones 'including but not limited to specified areas within Riyadh, Jeddah, Makkah, and Madinah' are 'set out in an official document displayed via the Real Estate General Authority (REGA) portal' with maps, limits and durations. REGA's portal does not resolve from here, so the Riyadh zone boundaries are not reproduced.
Largest disclosed core landholding~20 million sqm Riyadh landbank (original size), Kingdom Holding
KHC announcement, 7 April 2026: its subsidiaries Kingdom Real Estate Development Company and Trade Center Company appointed Sumou Real Estate as development manager for 'a land parcel with a total area of approximately 3.07 million square meters, located in Riyadh', 'estimated to generate approximately SAR 4 billion in total sales', part of 'its Riyadh landbank, which originally sized approximately 20 million square meters'. The 2025 annual report lists an 'East Riyadh land portfolio (c. 4 Mn. square metres; majority-owned)' on the Dammam Highway.
Listed owner of Kingdom Centre — investment propertiesSAR 3,367,564 thousand (31 Dec 2025)
KHC Integrated Annual Report 2025, consolidated statement of financial position: investment properties SAR 3,367,564k (2024: 3,124,986k), of which 'investment properties kept for the purpose of rental yields amounted to SAR 1.3 billion (2024: SAR 1 billion)', valued by TAQEEM-accredited valuers; 2025 sale of 16,749.52 sqm of land for SAR 55 million (gain SAR 38 million).
Largest disclosed residential saleSAR 900 million — Kingdom City, 384 units (Feb 2024)
KHC announcement, 20 February 2024; the 2025 annual report's note 12.3 records the 2024 compound sale at a consideration of SAR 981 million. Later benchmark: KAFD DMC's SAR 12 billion 15-year Murabaha facility (15 June 2026) secured against the district's development.
Sovereign giga-sites inside the cityKAFD 1.6M+ sqm / 95 towers; New Murabba 19.2M sqm
KAFD at-a-glance page and KAFD DMC release (PIF acquisition 2018); New Murabba institutional-investors page ('A 19.2 Million sqm Canvas', 'a Public Investment Fund company'). Diriyah (14 km², SAR 236bn+ budget, 'A PIF Company') lies in the adjoining Diriyah Governorate, outside Riyadh city, and is not counted here.
5
Who builds the houses
New-home building in this market: the volume, and the firms behind it. Ownership of a builder matters as much as its volume — a private-equity platform and a family firm behave differently.
Riyadh is a master-developer market in which the state is the biggest builder: the Public Investment Fund's ROSHN sells villas and apartments off-plan from communities such as SEDRA, the Ministry of Municipalities and Housing's National Housing Company (NHC) masterplans land and partners listed developers to build on it, and the Tadawul-listed developers report their units. There is no official league table: Sakani, the housing programme's portal, is bot-walled, GASTAT's housing tables are JavaScript, and NHC's own counters render as zeros, so the figures below are the companies' own and Retal's are the only audited ones.
| Name | Type | Scale, as the source states it |
|---|---|---|
| ROSHN Group 'Saudi Arabia's leading multi-asset class real estate developer and a Public Investment Fund (PIF) company'; Riyadh communities SEDRA, WAREFA and ALDANAH among five nationally; contributes to the National Housing Program and the PIF Program. No units-delivered figure is published on the site. |
Sovereign fund | not stated in readable form (SEDRA: 'over a thousand families'; fifth phase selling)A |
| Retal Urban Development Company Integrated Report 2025 (Tadawul-listed): total assets SAR 5,783.42m; 16,041 units in ongoing and upcoming projects; 'a SAR 5.2 billion master-planned community in Al-Fursan, Riyadh (4,839 units with infrastructure)' and the SAR 2.7bn Ewan Khozam project, both with NHC; Riyadh land projects Khazm Gate (436,500 sqm), Rimal Gate (290,000 sqm) and Al Sharaq Land (4,273,439 sqm); Terra Riyadh fund (SAR 2bn) with BLOMINVEST. |
Public company | 731 units delivered in 2025; 22,397 units across 57 projects; 65% of units in the Central RegionA |
| National Housing Company (NHC) The Ministry of Municipalities and Housing's 'investment arm for initiatives and projects in the real estate, residential, and commercial sectors' (about page), with subsidiaries National Asset Management, National Finance Services, NHC Innovation and National Housing Services; its 'NHC in numbers' tiles are JavaScript counters. Retal's report names it as the land partner behind Al-Fursan (4,839 units) and Ewan Khozam in Riyadh. |
Government | not stated in readable formA |
| Kingdom Holding Company (Kingdom Real Estate Development / Trade Center Company) A land seller rather than a home builder: the 7 April 2026 agreement appoints Tadawul-listed Sumou Real Estate as exclusive development manager to service, market and sell residential and commercial plots over 36 months. PIF holds ~16.9% of KHC. |
Public company | 3.07M sqm of plots, est. SAR 4bn sales, from a ~20M sqm landbankA |
| Dar Al Arkan Real Estate Development Company Tadawul-listed and the developer of Shams Ar Riyadh, but its domain does not resolve for the www host and the bare host does not connect, so nothing is taken from it; kept as a named gap. |
Public company | not readableC |
| Diriyah Company 'A PIF Company' per its site footer; 'transforming 14km² of Diriyah', 'SAR 236bn+ total development budget', '1.6mn+ SQM office space GFA', '566k+ SQM retail space GFA'. The project lies in Diriyah Governorate, adjoining Riyadh to the north-west, so it is listed for context and not counted as Riyadh stock. |
Sovereign fund | 300+ branded residences, 40 hotels, 14 km² (outside the city boundary)A |
6
Commercial landlords
The commercial side, counted separately from housing: who holds the office, retail and industrial floor area.
With the register closed and the exchange blocked, Riyadh's commercial ownership record is what the sovereign fund's district companies and one listed holding company say about themselves. The bases differ — KAFD counts towers and land, KHC reports a balance-sheet line, New Murabba a site area — so this is a set of self-descriptions, not a ranking, and the listed mall landlord (Cenomi Centers) and the PIF-majority Saudi Real Estate Company (Al Akaria) are missing because neither could be read.
| Name | Type | Portfolio, as the owner states it |
|---|---|---|
| KAFD Development and Management Company (KAFD DMC) 'Developer and operator' of the district; acquired by PIF in 2018; SAR 12bn 15-year Murabaha facility secured 15 June 2026 'for further development across the district'. Tenants named in its releases include PIF, the CMA, Tadawul and the largest banks. |
Sovereign fund | 95 office towers on 1.6M+ sqm; 45+ LEED-certified buildingsA |
| Kingdom Holding Company (Trade Centre Company Limited) Owner of Kingdom Centre — tower, Kingdom Market and the Four Seasons Hotel Riyadh — through TCCL, plus the East Riyadh land portfolio (c. 4M sqm, majority-owned). Tadawul-listed; PIF ~16.9%. |
Public company | Investment properties SAR 3.37bn, of which SAR 1.3bn held for rental yield (31 Dec 2025)A |
| ROSHN Group 'Residential Communities, Commercial Offices, Community Retail, Hotels & Hospitality' are the asset classes it names; ROSHN Front is its mixed-use destination beside SEDRA. A PIF company. |
Sovereign fund | ROSHN Front (retail and offices, North Riyadh); floor area not statedA |
| New Murabba Development Company 'A PIF-Backed Master Developer' offering 'prime assets across retail, premium offices, luxury hospitality, premium residences, and world class cultural venues' to institutional investors; nothing is yet let. |
Sovereign fund | 19.2 million sqm site (under development)A |
| Cenomi Centers (Arabian Centres Company) Tadawul-listed owner of Riyadh malls including Al Nakheel Mall; portfolio and investor pages answer HTTP 429 to every client and the exchange is blocked, so no GLA or asset count is recorded. |
Public company | not readableC |
?
Looked for and not found
Claims this page would have made if a source could be opened. They are left out rather than guessed.
- REGA's service catalogue entry for 'Property Enquiries' (Real Estate Registry; 'Price: Free'; 'Enquiring about the details of property, including ownership, location and space') and its Open Data page with the carve-out for 'information that is confidential or personal under another system' — both read by the scout, neither reachable here because rega.gov.sa does not resolve from this egress. titleSearchFee is therefore left null rather than recorded as free.
- The authoritative Arabic text of Royal Decree M/14 (19/1/1447H) and of Council of Ministers Decision 43 (8/1/1448H): laws.boe.gov.sa refuses connections and uqn.gov.sa does not resolve, so the law is recorded from four law-firm summaries (Latham & Watkins, A&O Shearman, Greenberg Traurig, Pinsent Masons) that agree on the decree, the zones and the 2% fee but differ on the effective date (21 vs 22 January 2026) and the date of the regulations' approval (23 June vs 3 July 2026).
- The boundaries of the Riyadh foreign-ownership zone — published as a map on REGA's portal, not opened.
- Any per-city transaction total: REGA's Real Estate Indicators platform and the Ministry of Justice's SREM index are the only official sources and both are unreachable from outside the Kingdom.
- Owners of Al Faisaliah Tower, Al Nakheel Mall, Riyadh Park, Riyadh Front, Olaya Towers and Burj Rafal — no filing or page that opened names a title-holder.
- Floor counts for Kingdom Centre and Al Faisaliah Tower — not stated in any page opened.
- Kingdom Holding's percentage in the fund that bought Kingdom City (the announcement promised it 'at a later date'), and the reconciliation of the SAR 900 million announced price with the SAR 981 million consideration in KHC's 2024 accounts.
- Unit counts for ROSHN, NHC, Dar Al Arkan and the Saudi Real Estate Company (Al Akaria): the first two render only JavaScript counters or prose, the last two could not be reached.
- The terms of use of Aqar, Bayut Saudi and Property Finder Saudi (403, 503 and 500 respectively) — treated as prohibiting scraping; no listing data was taken.
- Diriyah Company's assets are excluded from the Riyadh figures because the project sits in Diriyah Governorate; if the city boundary used by /property later includes Diriyah, its 14 km² and SAR 236bn+ budget belong here.
§
Sources
- Saudi Arabia Reforms Real Estate Law to Enhance Foreign Investment and Ownership (Royal Decree M/14 of 19/1/1447H; effective 22 January 2026; CMA Controls; disposal fee; registration with REGA) — Latham & Watkins LLP · openA
- Real Estate Price Index, Q2 2026 (release PDF: 'Real Estate Price Index rises by 1.3% in Q2 2026'; Riyadh Region +4.2%) — General Authority for Statistics (GASTAT) · openA
- Integrated Annual Report 2025 (subsidiaries table: Trade Centre Company Limited 'is the owner of Kingdom Center in Riyadh'; shareholding structure; note 12 investment properties) — Kingdom Holding Company (Tadawul: 4280) · openA
- Kingdom Holding Company sells the 'Kingdom City' to Alawwal Investment Co. for SAR 900 million & will participate in the new fund that owns 'Kingdom City' — Kingdom Holding Company · openA
- KAFD DMC Secures SAR 12 Billion Facility as Further Development Marches Ahead ('since its acquisition by the Public Investment Fund (PIF) in 2018') — KAFD Development and Management Company · openA
- Kingdom Holding Company Announces Signing of Agreement to Develop, Market and Sell Residential and Commercial plots in Riyadh (3.07M sqm; ~20M sqm landbank; Sumou Real Estate) — Kingdom Holding Company · openA
- Institutional Investors — 'A 19.2 Million sqm Canvas for Growth'; 'As a Public Investment Fund company, New Murabba is a master developer' — New Murabba Development Company · openA
- SEDRA community, Riyadh — phases and location — ROSHN Group · openA
- ROSHN Front — 'By ROSHN Group' mixed-use destination, North Riyadh — ROSHN Group · openA
- The Kingdom of Saudi Arabia Publishes Implementing Regulations to the Foreign Ownership of Real Estate Law (Council of Ministers approval 23 June 2026; REGA platform and zone map; 2% fee) — Greenberg Traurig LLP · openA
- New foreign ownership law in the Kingdom of Saudi Arabia (Royal Decree M/14; Council Decision 43 of 08/01/1448H; geographical zones on REGA's portal; fees) — A&O Shearman · openA
- Al Faisaliah Center (Cloudflare challenge to every client) — Al Faisaliah · blockedC
- Our portfolio (HTTP 429 Vercel Security Checkpoint) — Cenomi Centers (Arabian Centres Company, Tadawul: 4321) · blockedC
- Dar Al Arkan corporate site (host does not resolve / connect) — Dar Al Arkan Real Estate Development Company (Tadawul: 4300) · blockedC
- Najiz — Ministry of Justice services portal (e-services, verification services, login) — Ministry of Justice, Saudi Arabia · registrationA
- Property Enquiries — Real Estate Registry service (unreachable from this egress; read by the scout) — Real Estate General Authority (REGA) · blockedC
- Saudi Arabia law change opens door to foreign property ownership (Royal Decree M/14 of July 2025; in force 21 January 2026) — Pinsent Masons (Out-Law) · openA
- Integrated Report 2025 (units delivered, portfolio, Riyadh projects, NHC partnerships) — Retal Urban Development Company (Tadawul: 4322) · openA
- About NHC (investment arm of the Ministry of Municipalities and Housing; subsidiaries) — National Housing Company · openA
- We Are ROSHN — 'a Public Investment Fund (PIF) company' — ROSHN Group · openA
- About Us — 'As a subsidiary of the Public Investment Fund, New Murabba spearheads Riyadh's transformation' — New Murabba Development Company · openA
- KAFD DMC / KAFD at a glance (1.6M+ sqm, 95 office towers, 45+ LEED-certified buildings) — KAFD Development and Management Company · openA
- Diriyah Masterplan and About Diriyah Company ('A PIF Company'; 14 km²; SAR 236bn+) — Diriyah Company · openA