Riyadh Development to develop SAR 2.1B real estate investment fund

Logo of Riyadh Development Co. 

Riyadh Development Co. signed on Oct. 10 a contract to act as the developer of a real estate investment fund worth over SAR 2.1 billion, managed by ANB Capital.

In a statement to Tadawul, Riyadh Development said the four-year contract includes developing the infrastructure of a project spanning 1.8 million square meters in eastern Riyadh.

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Following regulatory approval, ANB Capital will oversee land acquisition and development. Meanwhile, Riyadh Development will participate as an investor with an estimated share of 10% of the fund’s value.

The fund's assets include three land plots in Al Ramal, Al Qadisiyah, and Al Janadriyah districts. The strategic location of these plots presents an ideal opportunity for future above-ground development projects in eastern Riyadh, particularly in the commercial, office, and residential sectors.

The entire project is expected to be completed and exited within four years, the statement stressed.

This fund aligns with the company’s "Investing for Growth" strategy unveiled in 2023, which aims to maximize returns and diversify investments.

Riyadh Development leverages its extensive experience in infrastructure projects, having been involved in some of Riyadh's most prominent developments, to deliver exceptional projects that contribute to the city's urban landscape and support Saudi Vision 2030.