Key Takeaways
- • Riyad Capital and Naif Alrajhi Investment have established a $400 million (SAR 1.5 billion) real estate development fund called "Riyad Real Estate Development Fund – Dar Al Salam" to develop a mixed-use project in Riyadh.
- • The fund will develop a mixed-use project in one of Riyadh's districts, representing Riyad Capital's continued expansion into large-scale real estate development aligned with Saudi Vision 2030 objectives.
- • Princess Munira bint Abdullah bin Abdulaziz Al Saud is a partner in the fund structure, signaling backing from prominent Saudi royal family members alongside institutional investors.
- • Riyad Capital, licensed by the Saudi Capital Market Authority, demonstrates active capital deployment across multiple real estate funds, with the Public Investment Fund (PIF) holding 21.75% of parent company Riyad Bank.
Summary
Riyad Capital and Naif Alrajhi Investment have signed an agreement to establish the "Riyad Real Estate Development Fund – Dar Al Salam," a $400 million (SAR 1.5 billion) real estate vehicle focused on developing a mixed-use project in Riyadh. The fund represents a strategic partnership combining institutional investment expertise with prominent Saudi capital, positioning the venture within the kingdom's broader urban development framework.
Princess Munira bint Abdullah bin Abdulaziz Al Saud serves as a partner in the fund structure, providing both capital and strategic positioning within Saudi Arabia's investment ecosystem. This involvement underscores the project's integration with Vision 2030 initiatives and reflects confidence from high-net-worth Saudi stakeholders in Riyad Capital's real estate development capabilities.
The mixed-use project will be developed across a prime district in Riyadh, with the fund designed to capture value creation opportunities across residential, commercial, and potentially hospitality or mixed-use segments typical of modern Saudi urban developments. This announcement follows Riyad Capital's established track record in real estate fund management, including previous initiatives such as the SAR 6 billion Makkah transit-oriented development project with the Saudi Railway Company and other residential development funds.
Riyad Capital operates as a licensed securities services provider under Saudi Capital Market Authority regulation, offering principal, agent, underwriting, and advisory services. The fund announcement reflects broader institutional confidence in Saudi Arabia's real estate sector recovery and continued alignment with government-backed development priorities under Vision 2030.
Princess Munira bint Abdullah bin Abdulaziz Al Saud serves as a partner in the fund structure, providing both capital and strategic positioning within Saudi Arabia's investment ecosystem. This involvement underscores the project's integration with Vision 2030 initiatives and reflects confidence from high-net-worth Saudi stakeholders in Riyad Capital's real estate development capabilities.
The mixed-use project will be developed across a prime district in Riyadh, with the fund designed to capture value creation opportunities across residential, commercial, and potentially hospitality or mixed-use segments typical of modern Saudi urban developments. This announcement follows Riyad Capital's established track record in real estate fund management, including previous initiatives such as the SAR 6 billion Makkah transit-oriented development project with the Saudi Railway Company and other residential development funds.
Riyad Capital operates as a licensed securities services provider under Saudi Capital Market Authority regulation, offering principal, agent, underwriting, and advisory services. The fund announcement reflects broader institutional confidence in Saudi Arabia's real estate sector recovery and continued alignment with government-backed development priorities under Vision 2030.
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