SEDCO Capital, Sumou Investment sign agreement to set up 5 real estate funds worth over SAR 8B

Logo of SEDCO Capital

SEDCO Capital, a leading global asset management and Shariah-compliant investment solutions provider, announced signing an agreement with Sumou Investment to establish five private real estate investment funds, with a total value exceeding SAR 8 billion.

According to a company statement, the funds' strategy includes a diverse range of projects, such as infrastructure development, mixed-use tower construction, and multi-purpose real estate developments. These investment projects will be distributed across key cities in the Kingdom of Saudi Arabia, including Riyadh, Jeddah, Makkah, and Madinah.

SEDCO Capital reaffirmed its commitment to expanding its real estate investment strategy, focusing on meeting the needs of investors seeking innovative and sustainable opportunities.

Acting CEO of SEDCO Capital, Abdulwahab Abed, said: "Through this agreement, we maintain our strategic vision of providing innovative, Shariah-compliant investment solutions that align with our investors' aspirations. This step reinforces SEDCO Capital’s position as a trusted investment partner, keeping pace with the rapid developments in the Saudi real estate investment sector, in line with Vision 2030."

Meanwhile, CEO of Sumou Investment, Abdulrahman Al-Qahtani, commented: "We are proud to sign this agreement, which builds on Smw Investment’s strategic growth. We remain committed to developing value-added real estate projects that create integrated residential and commercial communities, catering to the kingdom of Saudi Arabia growing market needs."

The agreement embodies SEDCO Capital and Sumou Investment’s commitment to enhancing the kingdom of Saudi Arabia real estate investment sector through innovative and sustainable projects that support Vision 2030. With a diversified project portfolio across major cities, this partnership reflects a joint vision that aims to add value to the national economy while meeting investor and growing market aspirations.