Logo of Thimar Development Holding Co.
Thimar Development Holding Co. announced a SAR 6 million investment in a Capital Market Authority (CMA)-licensed real estate fund to build a residential tower in Riyadh's Olaya District.
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Investment Details |
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Fund Name |
Osool and Bakheet Fund – Four Directions Business Square |
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Fund Capital |
SAR 124.09 mln |
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Duration |
37 months |
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Investment Return (%) |
116.36% |
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Start Date |
July 2024 |
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Real Estate Developer |
Four Directions International Trading Co. |
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Fund Aim |
Construction of 97 residential units and their facilities, Yamama City Center, in front of the Kingdom Tower, Olaya main street, Olaya District, Riyadh. The project area is 1,600 sqm. |
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The investment is consistent with Thimar's strategy of investing in high-quality real estate projects and is expected to have a positive financial impact, according to a statement to Tadawul.
The investment also aligns with the previously announced financial regulation plan for investing in real estate projects with lucrative returns, the company said, adding that any relevant developments will be announced in due course.
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