Naif Alrajhi Investment and Aljazira Capital launch a SAR 1.7bln real estate fund
This partnership underscores the shared investment vision of both companies in the Saudi real estate market and their shared ambition to enhance its appeal by developing innovative, high-value projects. The fund will support the execution of two strategic developments in two of the Kingdom's most prominent and dynamic cities.
In Riyadh, the fund will support the development of a luxury residential project in Al Khuzama district, designed to offer a fully integrated residential environment that elevates quality of life. The project will feature a diverse range of private residences, premium services, and architectural designs aligned with Saudi Arabia's modern vision. Strategically located near key landmarks in the capital, the project offers strong investment value and serves as an ideal choice for those seeking exceptional living in one of Riyadh's most prestigious neighborhoods.
In Jeddah, the fund will support a mixed-use development in North Jeddah along King Abdulaziz Road. The project will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations. Designed to meet the growing demand for integrated, lifestyle-centric developments, the project combines living, working, and leisure in one strategic location. Its architectural design reflects Saudi Arabia's vision to preserve and modernize the Kingdom's identity, contributing to the evolving urban landscape of Jeddah in a contemporary and forward-looking way.
On this occasion, Mr. Naif Saleh Alrajhi, Chairman and CEO of Naif Alrajhi Investment, commented:
'We are proud to partner with Aljazira Capital in developing two high-impact projects. Strategic locations were carefully selected, and the real estate offerings were designed based on thorough market research and trends, while ensuring alignment with the urban code and architectural identity of each region.' He added: 'This collaboration reflects our ongoing commitment to developing distinctive real estate projects that enhance quality of life.'
For his part, Mr. Naif Al-Mesned, CEO and Managing Director of Aljazira Capital, stated:
'At Aljazira Capital, we remain dedicated to offering high-quality investment opportunities that align with our clients' aspirations and respond to evolving market demands. The launch of this fund, in partnership with Naif Alrajhi Investment as a specialized real estate developer, reflects our strategy to diversify our investment offerings and reinforce our active presence in the real estate sector.'
Mr. Bandar Al-Hogail, Head of Real Estate Assets at Aljazira Capital, also emphasized:
'The launch of this fund marks an important milestone in Aljazira Capital's strategy to offer a diversified portfolio of high-quality real estate investment products.' He added: 'Partnering with experienced industry specialists such as Naif Alrajhi Investment — the developer behind the fund's projects — is a key factor in ensuring project success and achieving targeted returns.'
Naif Alrajhi Investment is one of the Kingdom's leading investment groups, managing a diversified portfolio with a strong focus on the real estate sector. With a proven track record of success both locally and internationally, the company brings deep expertise and a strategic vision to developing real estate assets that meet the highest standards.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
UAE secures top spot in global AI talent rankings
The UAE has been ranked among the world's top 20 nations for artificial intelligence (AI) talent density, alongside Saudi Arabia, in the latest Global AI Competitiveness Index published by the International Finance Forum (IFF) and Deep Knowledge Group (DKG). With 0.7 per cent of the global AI talent pool, the UAE has outpaced countries such as Italy and Russia — affirming its growing stature as a global innovation powerhouse. While much of the spotlight has been on Saudi Arabia's ambitious AI push, the UAE's AI ecosystem has quietly gained strength through long-term strategic investments, visionary policymaking, and global partnerships that position it at the forefront of AI development and governance. The UAE's focus on AI began with the launch of the UAE Artificial Intelligence Strategy 2031, which aimed to integrate AI across key sectors including education, healthcare, transport, and space. The country was among the first in the world to appoint a Minister of State for Artificial Intelligence in 2017, and today it continues to expand AI readiness through initiatives such as the Mohammed bin Zayed University of Artificial Intelligence (MBZUAI) — a graduate-level, research-centric university that is already attracting global talent and publishing cutting-edge research. MBZUAI is currently ranked among the world's top 50 institutions in AI research output, and is collaborating with global tech giants including IBM, NVIDIA, and BCG to foster research in machine learning, robotics, computer vision, and AI ethics. 'The UAE's ecosystem is built not just on infrastructure, but on a vision of ethical AI, global cooperation, and a diversified economy driven by knowledge and innovation,' said Dr. Eric Xing, President of MBZUAI. The IFF report underscores the UAE's growing influence in global AI competitiveness by evaluating not only talent density but also the nation's institutional and innovation performance. The UAE ranked well above many traditional tech economies in per capita AI talent and research productivity, due in part to its business-friendly environment, tax-free salaries, and quality of life — factors that attract leading scientists, engineers, and entrepreneurs from around the world. The report's co-author Dmitry Kaminskiy of Deep Knowledge Group remarked: 'Saudi Arabia and the UAE's strategic focus on AI, coupled with visionary investments in talent and infrastructure, is setting the stage for a tectonic shift in global AI leadership.' According to the UAE's Ministry of Economy, the nation aims to increase the AI sector's contribution to GDP by up to 14 per cent by 2030 — translating to over $100 billion in economic output. Much of this is being driven by AI applications in logistics, government services, fintech, and smart city solutions, especially in hubs like Dubai and Abu Dhabi. The Dubai Future Foundation, for instance, is pioneering large-scale AI use cases in government and urban mobility through its Dubai AI Roadmap. Similarly, Abu Dhabi's Hub71 and its partnership with global VCs and accelerators has made the UAE one of the fastest-growing AI startup ecosystems in the region. As per data from Crunchbase and Startup Genome, AI-focused startups in the UAE raised more than $1.3 billion in venture capital in 2024 alone, with projections pointing to a 25 per cent increase in funding in 2025. While Saudi Arabia is investing heavily in infrastructure-led projects like NEOM — where over 30 per cent of its $500 billion budget is earmarked for AI-powered technologies — the UAE's strength lies in policy innovation and ecosystem-building. This complementary approach is helping the broader Gulf region gain momentum as a global AI innovation corridor. 'The UAE provides a unique balance of global accessibility, talent development, and future-ready governance,' noted Professor Patrick Glauner, IFF AI committee coordinator. 'Its neutral diplomatic positioning and strong ties with both Western and Eastern tech partners make it a magnet for cross-border AI collaboration.' At the heart of this transformation is the battle for AI talent. The UAE's efforts in creating AI labs, reskilling programmes like the National Program for Coders, and special visas for AI professionals are enhancing its ability to attract and retain global talent.
Khaleej Times
3 hours ago
- Khaleej Times
Dubai: New areas driving strong demand as July property sales near Dh50 billion
Dubai's property market continues to hold strong in July, as demand shifts from traditional to new areas that are offering long-term value for end-users, according to the latest data. Released by Springfield Properties, data showed that the emirate's real estate market recorded Dh49.67 billion in transactions in July 2025, a 12.09 per cent increase from June 2025 and a 24.8 per cent rise year-on-year. A total of 18,191 deals were registered, up 16.5 per cent month-on-month and 21.5 per cent annually, underscoring the market's momentum heading into the second-half. Off-plan transactions accounted for 74.26 per cent of activity, supported by a broader end-user base, enhanced affordability measures, and rising investor appetite in emerging corridors. "Transaction volumes are holding steady at a high base, supported by the scale and pace of new project launches," said Farooq Syed, CEO of Springfield Properties. "We're seeing particular strength in the off-plan segment where developers are responding to buyer expectations with flexible payment plans, and integrated masterplans designed for long-term community living," he said. Syed added that buyers are better informed these days and more focused on tangible value - from quality of product to delivery timelines. According to Springfield Properties, as Dubai's infrastructure expands and masterplanned communities evolve, demand is shifting beyond traditional prime areas toward developments offering long-term value and livability. The current cycle is shaped by informed buyers, diversified capital allocation, and sustained confidence in the emirate's real estate fundamentals — underpinned by consistent transaction growth, flexible financing, and a deepening commitment to quality delivery across segments. July data showed that the average price per square foot for off-plan apartments was Dh2,090, with ready apartments averaging Dh1,495. For villas and townhouses, off-plan prices averaged Dh1,353 per sqft, while secondary market prices averaged Dh1,666 per sqft. Compared to June, price movements across most segments remained within a tight range, with performance tied more closely to product design and location than macro shifts. The secondary market also remained active in July, with ready apartments in established locations seeing demand from first-time buyers taking advantage of new mortgage schemes. Villas continued to register interest selectively, with premium end-user buyers prioritising layout efficiency and long-term value.
Khaleej Times
4 hours ago
- Khaleej Times
Dubai completes 24 real estate projects worth Dh4.5 billion in first half of 2025
Dubai's real estate sector continues to strengthen its position as one of the key pillars of the emirate's economic growth, recording steady performance and results that reflect the market's resilience and diversity of investment opportunities. According to data from the Dubai Land Department (DLD), the first half of 2025 saw the completion of 24 real estate projects valued at Dh4.5 billion. This momentum is part of a wider growth trajectory, with 726 projects currently under construction across the emirate, underscoring sustained demand from both developers and investors. The surge in ongoing development also indicates the accelerated pace of project delivery to meet rising demand for standalone units and integrated residential communities. Dubai's real estate market registered 90,337 new real estate units during the first half of the year, serving as a clear indicator of the sector's sustained growth. This also reflects developers' responsiveness to market needs, particularly amid rising demand for ready-to-move and sustainable projects that offer comprehensive living spaces. In H1 2025, 75,347 real estate units were sold valued at Dh151 billion, highlighting the sustained momentum in residential property transactions, supported by investors' confidence in the market's long-term prospects. Keeping with this trend, villa sales demonstrated strong performance, with 7,167 villas sold for over Dh28 billion, reflecting a considered shift in buyer preferences toward standalone units and fully integrated residential communities. In the rental market, 465,738 lease contracts were registered during H1 2025, a slight increase from 462,657 in the same period of 2024, representing a rise of under 1%. This indicates a stable and steady sector, supported by government initiatives and programmes aimed at encouraging residents to transition from renting to home-ownership and enhancing family and social stability in the emirate. The total value of lease contracts reached approximately Dh42 billion in H1 2025, reflecting a 5% increase compared to the same period in 2024. New lease contracts saw a 7% rise, reaching 232,928, up from 217,101 in the same period last year. The figures reaffirm Dubai's leading position in the regional and global real estate sector and highlight the effectiveness of the Dubai Land Department's regulatory policies and frameworks aimed at stimulating investment, enhancing transparency, and empowering all segments of society to own property within a stable and attractive environment. Through its strategic initiatives and advanced digital efforts, DLD continues to develop an integrated real estate ecosystem that meets the aspirations of both individuals and investors. These efforts support the objectives of the Dubai Real Estate Strategy 2033 to position the emirate as the world's best city for quality of life and real estate investment.
