KAFD DMC Enters Strategic Partnership with the United Nations Country Team

The King Abdullah Financial District Development and Management Company (KAFD DMC) has signed a Letter of Understanding with the United Nations Country Team (UNCT) to enhance engagement with the Sustainable Development Goals (SDGs) in Riyadh.

KAFD DMC owns and manages the King Abdullah Financial District (KAFD), the largest mixed-use development in the region and Saudi Arabia’s prime financial hub. Strategically located in the heart of Riyadh, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class venues and iconic luxury residences and is the largest LEED-certified mixed-use financial district in the world. A landmark development, KAFD is a cornerstone initiative of Vision 2030.

The UNCT, led by the United Nations Resident Coordinator, works with the Government of Saudi Arabia and key partners through the UN Sustainable Development Cooperation Framework 2022 – 2026 in support of progress on sustainable development in the Kingdom and the achievement of Agenda 2030 the Sustainable Development Goals.

The SDGs were agreed upon by the UN member states in 2015 as a call-to-action for people worldwide to address five critical areas of importance – people, planet, prosperity, peace, and partnership, and are the blueprint to achieve a better and more sustainable future for all. They address the global challenges the world faces including poverty, inequality, climate change, environmental degradation, peace and justice. 

The collaboration between KAFD DMC and the UNCT builds on the Kingdom's commitment and contribution to the SDGs and KAFD DMC's leadership in building sustainable urban living within KAFD in line with Vision 2030. KAFD DMC and the UNCT will work together to foster long-term, sustainable partnerships with key Saudi stakeholders to align with global sustainable development priorities and support national priority areas.

Marking the occasion, Gautam Sashittal, Chief Executive Officer of KAFD DMC, said, “Successful sustainable development is premised on cross-sectoral partnerships and a strong sense of purpose; this is key to KAFD’s business model. As a business and finance hub, we can contribute significantly to global development by creating and maintaining an environment that encourages innovation, entrepreneurship, and broad economic growth. We see this partnership with the UN as a sign of the international community’s confidence in KAFD as a pillar of the Kingdom’s contribution to local and global development goals, and we look forward to a long and fruitful partnership.” 

Representing the UNCT, Eltayeb Adam, UNICEF Gulf Area Representative added, “The United Nations in Saudi Arabia has transformed its relationship with the private sector through its partnership strategy. The private sector plays a crucial role in economic growth and sustainable development. We are excited to sign this LOU with KAFD as the first step in working together in support of the 2030 Agenda and the Sustainable Development Goals.”