Riyad Capital, Al-Ramz launch $186m real estate fund to develop new project
Riyad Capital and Al-Ramz have jointly established a $186 million real estate fund named Durrat King Khalid Fund, which will finance new office and commercial developments in Saudi Arabia's capital.
This collaboration is dedicated to creating a high-quality project on a prime 27,000 sq. m. site in the city.
The initiative represents a continuation of the ongoing ventures between Riyad Capital and Al-Ramz, as noted by Al-Ramz CEO Haroon Al-Rasheed. This fund is the third of its kind arising from their partnership.
Abdullah Abdulrahman Alshwer, CEO of Riyad Capital, asserts that this agreement builds upon their joint history of unique real estate projects, offering investors appealing opportunities.
The Durrat King Khalid Fund aims to attract international firms by creating an office environment equipped with the latest technologies and service experiences.
Furthermore, the fund's vision includes developing a business hub suitable for government entities and both international and local companies.
Previously in 2021, Al-Ramz invested in the Watheeq Proptech VC Fund, which focuses on innovative property technologies such as 3D printing, modular construction, and robotics to promote sustainable housing development in Saudi Arabia.
The partnership aimed to streamline the construction process and promote swift delivery of high-quality, affordable housing, in line with the government's Vision 2030 goal to provide 1.5 million homes. Al-Rasheed highlighted that this initiative would enhance customer experience in the sector.
The initiative represents a continuation of the ongoing ventures between Riyad Capital and Al-Ramz, as noted by Al-Ramz CEO Haroon Al-Rasheed. This fund is the third of its kind arising from their partnership.
Abdullah Abdulrahman Alshwer, CEO of Riyad Capital, asserts that this agreement builds upon their joint history of unique real estate projects, offering investors appealing opportunities.
The Durrat King Khalid Fund aims to attract international firms by creating an office environment equipped with the latest technologies and service experiences.
Furthermore, the fund's vision includes developing a business hub suitable for government entities and both international and local companies.
Previously in 2021, Al-Ramz invested in the Watheeq Proptech VC Fund, which focuses on innovative property technologies such as 3D printing, modular construction, and robotics to promote sustainable housing development in Saudi Arabia.
The partnership aimed to streamline the construction process and promote swift delivery of high-quality, affordable housing, in line with the government's Vision 2030 goal to provide 1.5 million homes. Al-Rasheed highlighted that this initiative would enhance customer experience in the sector.