The King Abdullah Financial District (KAFD) is a new development under construction near King Fahad Road in the Al Aqeeq area of Riyadh, Saudi Arabia being undertaken by King Abdullah Financial District Development and management Company (KAFD DMC) which is wholly owned by Public Investment Fund (PIF) of Kingdom of Saudi Arabia. Previously it was being managed by the Rayadah Investment Corporation on behalf of the Pension Authority of the Kingdom of Saudi Arabia.