1648 Capital Marks Strategic Advisory Milestone Following Award of King Salman Park Package 5 District
- Mar 9
- 3 min read
FOR IMMEDIATE RELEASE
Dubai, United Arab Emirates | 9 March 2026
1648 Capital LLC FZ today announced its role in supporting Kolaghassi Development Company as part of the successful mandate to develop Package 5, a major residential-led mixed-use district within King Salman Park in Riyadh.
The award was formally announced during MIPIM 2026, where Ali Kolaghassi, Chairman and CEO of Kolaghassi Development Company, joined the leadership of the King Salman Park Foundation on stage for the signing ceremony. The development forms part of a consortium-backed investment platform of approximately US$3 billion and represents a significant private-sector commitment to Saudi Arabia’s next phase of urban growth.
Located within King Salman Park and directly connected to the King Salman Park Metro Station, Package 5 is expected to introduce a new residential-led mixed-use neighbourhood designed around community, connectivity and accessibility. The district is planned to bring together approximately 3,700 homes, hospitality and lifestyle offerings, workplaces, education facilities and curated retail, creating an integrated urban environment for everyday life in Riyadh.
1648 Capital supported KDC through the process and has worked closely with the company across a number of strategic initiatives in the Kingdom and wider region. The mandate reflects 1648’s focus on helping clients move from ambition to executable platforms, aligning capital, partners, governance and delivery strategy around complex private-market opportunities.
“This transaction is an important milestone for 1648 Capital,” said Louay Aldoory, Managing Partner of 1648 Capital. “It demonstrates the type of work we were created to do: helping ambitious sponsors structure institutional-grade platforms capable of delivering complex, high-value projects. Package 5 brings together long-term capital, public-sector vision, private-sector execution and a clear urban purpose. We are proud to have supported KDC on this journey.”
The project also reinforces 1648 Capital’s growing presence in the Gulf region, following a transaction history rooted principally in Zurich and London. For 1648, the Package 5 mandate is one of its largest engagements to date in terms of size, complexity and strategic scope, and serves as a live case study for the firm’s Platform Engineering capability.
1648’s Platform Engineering solution focuses on helping sponsors, investors and operating companies transform strategic ambition into investable, governable and executable platforms. This includes support across investment structuring, stakeholder alignment, governance design, capital positioning, strategic planning and execution readiness.
“Developments of this scale require more than capital,” added Aldoory. “They require disciplined coordination across investors, operators, planners, public stakeholders and delivery partners. Our role is to help clients build the institutional architecture needed to carry that complexity from concept into execution.”
1648 Capital congratulates Kolaghassi Development Company and the wider consortium partners, including King Salman Park Foundation, Mulkia Investment, Abdullah Al Othaim Investment Co. and RXR, on this important milestone.
As Saudi Arabia continues to advance its Vision 2030 transformation agenda, projects such as Package 5 demonstrate the scale of opportunity emerging across the Kingdom’s urban, residential and mixed-use development landscape. 1648 Capital looks forward to continuing to support clients and partners across the region as they structure, scale and deliver complex private-market platforms.
About 1648 Capital
1648 Capital is a buy-side corporate advisory firm focused on private markets, platform development and investment intervention. The firm works with sponsors, investors, family offices and operating companies to build investable platforms, resolve complex investment challenges and support the execution of strategic growth initiatives.
1648 Capital’s work spans private markets, corporate advisory and family office advisory, with a focus on governance, structuring, capital alignment and disciplined execution.
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