Riyad Capital, one of the largest asset managers and leading company’s in real estate investment, announces the signing of an agreement to form a real estate fund in partnership with Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company. The agreement is valued at US $400m (SR1.5bn).
The project spans a land area of 32,000 sqm and is designed as a mixed-use development with hospitality, office, residential and retail components.
“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.”
Princess Munira bint Abdullah bin Faisal Al Saud
The project, classified as a Transit-Oriented Development (TOD), is strategically located roughly 250m from Al Takhassusi Metro Station, supporting the development of an integrated urban destination which advocates sustainability, and responds to the growing demand for high-quality developments in Riyadh.
The project is reflective of Riyad’s strategy to create exceptional real estate investment opportunities through innovative investment solutions which maximises value for investors.
This is in conjunction with Naif Alrajhi Investment Company’s approach to strengthening its real estate portfolio through high-quality developments and strategic partnerships – mirrored with the objectives of Saudi Vision 2030.
“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 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.”
Abdullah Abdulrahman Alshwer, PhD, CFA, CEO, Riyad Capital
The project forms part of a developing integrated urban destination which is in alignment with the ongoing transformation of the city of Riyadh.
“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.”
Naif Saleh AlRajhi, Chairman and CEO, Naif Alrajhi Investment Company
As a landmark development focused on quality of life and sustainability, it supports urban and economic growth while providing sustainable long-term returns.
