Specialists in real estate affairs confirmed that the restructuring of King Abdullah Financial Center will result in an increase in the volume of supply of office and commercial real estate products, accommodation centers and hotels that exceed the actual need of Riyadh city for the next ten years, which leads to the impossibility of leasing or occupying the built areas that reached 3 million square meters with feasible returns, and the new structure works to reduce the significant rise in the actual cost of construction and the delay in completing implementation due to its delivery in one phase.

In line with the Kingdom's Vision 2030, it is expected to transfer the ownership of the center from the Public Pension Agency to the Public Investment Fund in the coming weeks, transform it into a special area with competitive regulations and procedures, exempt it from entry visas by linking it to the arrival hall at King Khalid International Airport directly by train, in addition to rearranging and distributing spaces in the center to increase the proportions allocated to housing, hotels and service areas versus offices, and making the center the headquarters of the Public Investment Fund.

The new restructuring will increase the actual cost of construction and delay the completion of implementation due to the delivery of the center in one phase. The King Abdullah Financial Center is one of the largest projects in Riyadh. The project is located in the north of Riyadh and covers an area of 1.6 million square meters. JP Morgan, the financial advisor, is working on the transfer of ownership of the King Abdullah Financial Center from the Public Pension Agency to the Public Investment Fund, where the advisor will complete the preparation of the feasibility study in addition to evaluating the amount to be paid in return for the pension.“