Giggs, along with former United team-mates Nicky Butt, Gary Neville, Phil Neville and Paul Scholes bought non-league Salford back in March.
And now they will play in a friendly against the Northern Premier League Division One North side on August 7 as part of a 'Class of '92 (CO92) Legends' team.
A statement from Salford read: "Salford City FC are to play a pre-season friendly against CO92 legends Giggs, Scholes, Butt and the Neville brothers."
Funds raised from the game will go to the club.
A statement on behalf of the quintet of United greats read: "We are really looking forward to the match, it will certainly be competitive.
"It will good to play with each other again, it's been a long time but more importantly we will want to give Salford City a tough game.
"We are going to ask some familiar faces to play with us and we will be sure it will be an entertaining game for the fans of Salford City."
Giggs became United interim player-manager last month following the sacking of David Moyes.
The Welshman included Butt, Phil Neville and Scholes on his backroom staff.
Giggs, who has played 963 times for United, is yet to decide whether to hang his boots up at the end of the season or go into management.
Source: PA