Riyad Capital, one of Saudi Arabia’s largest asset managers and a leading company in real estate investment, has signed an agreement to establish a $400 million (SAR1.5 billion) real estate fund in partnership with Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company.
The fund will develop Riyadh's Dar Al Salam project, which spans a land area of 32,000 sq m and is designed as a mixed-use development comprising hospitality, office, residential, and retail components. The project is classified as a Transit-Oriented Development (TOD).
Located approximately 250 m from Al-Takhassusi Metro Station, the project is set to support the development of an integrated and sustainable destination that enhances quality of life and addresses the growing demand for high-quality developments in Riyadh.
Princess Munira commented: “This project reflects the importance of the strategic location on Al-Takhassusi Road and the value of the partnership with Riyad Capital and Naif AlRajhi Investment Company to develop a project that aligns with the evolving urban landscape of Riyadh. We look forward to this development becoming a distinctive addition that supports quality of life and keeps pace with the city’s growing needs.”
Abdullah Abdulrahman Alshwer, CEO of Riyad Capital, stated: “This project represents an extension of our presence in the real estate sector and marks a new step in developing distinctive destinations in strategic locations across Riyadh, supported by its prime location on Al-Takhassusi Road. This partnership with Her Highness Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company reflects an integrated model that combines development expertise with investment management capabilities, enabling the delivery of a project that elevates the concept of mixed-use developments and aligns with evolving market expectations. This fund is part of our strategy to offer carefully structured investment opportunities built on strong fundamentals, enhancing value for investors. The project also represents Riyad Capital’s fourth Transit Oriented Development (TOD) project and contributes to supporting the objectives of Saudi Vision 2030, particularly in urban development and improving quality of life.”
Naif Saleh AlRajhi, Chairman and CEO of Naif AlRajhi Investment Company, added: “We see this project as a valuable addition to our real estate development portfolio, through which we aim to deliver a project that reflects high quality standards and meets the evolving expectations of the Riyadh market. This project also reflects our direction toward developing projects in prime locations, in partnership with Riyad Capital as a leading real estate investment firm, contributing to the delivery of an integrated experience aligned with Vision 2030.”
This project falls within Riyad Capital’s broader strategy to offer exceptional investment opportunities in the real estate sector and reinforce its position in highly competitive and strategic developments. The fund aims to establish an integrated urban destination aligned with Riyadh’s ongoing development momentum, with a strong focus on quality of life and sustainable returns. Through this step, the company reaffirms its commitment to delivering leading investment solutions that contribute to economic growth and maximize value for investors, said a statement. - TradeArabia News Service
