Alinma Investment launches SAR 2.3 bln Alinma Al-Khobar Real Estate Fund

Logo of Alinma Investment Co.

Alinma Investment Co. successfully launched Alinma Al-Khobar Real Estate Fund, in partnership with Roa’a Real Estate Co. The new closed-end private fund has an investment size of about SAR 2.3 billion. It was launched on an undeveloped land spanning more than four million square meters in Al-Khobar. The land deed was registered in favor of the fund’s special purpose vehicle. 

During its term, the fund aims to develop the land, sell it as developed parcels, and contribute to the real estate supply in Al-Khobar, in light of the city’s economic boom and population growth, in line with Vision 2030. The fund also seeks to raise the home ownership percentage among Saudis. 

Alinma Al-Khobar Real Estate Fund is also the first fund to be launched by Alinma Investment in the Eastern Province. The project’s land is strategically located near Prince Mohammad Bin Fahd University.

Alinma Investment is the wholly-owned investment arm of Alinma Bank and licensed by the Capital Market Authority. It commenced operations on Jan. 17, 2010 in activities related to dealing, managing, arranging, advising and custody of securities.

The company manages 25 real estate funds with assets under management of nearly SAR 60 billion.