Groundbreaking is currently taking place on the residential project and is expected to last six months. Following this, work will begin on the first phase of the project.
Beirut-based Dar al-Handasah (Shair & Partners) is the consultant.
The $1.6bn, 10 square-kilometre project includes 8,000 residential units and will be built in the north of the city.
The scheme, previously known as Riyadh View, also includes a school, mosques and a car park.