KAFD Partners with IBM for Smart Asset Management System

King Abdullah Financial District (KAFD) in Riyadh has partnered with IBM to implement a smart asset management system. The system, built on IBM Maximo Application Suite, aims to streamline asset handovers across KAFD's smart city ecosystem.

The new system will enhance operational visibility, lifecycle management, and maintenance efficiency for the district's mixed-use commercial, residential, and lifestyle offerings. As part of its digital transformation journey, KAFD has also developed a proprietary Transition Management Application built on IBM Maximo environment to address a critical operational challenge: the seamless handover of assets from construction teams to operations and maintenance teams.

Ayman AlRashed, Regional Vice President of IBM, stated that KAFD identified a clear market gap where no off-the-shelf product could fully support the complexity of transferring large-scale assets from construction into live city operations. The solution has been officially registered with the Saudi Authority for Intellectual Property (SAIP) under KAFD's name.