Saudi: Naif Alrajhi Investment, Aljazira Capital launch $453mln real estate fund
Riyadh – Naif Alrajhi Investment joined forces with Aljazira Capital to launch a closed private real estate investment fund valued at SAR 1.70 billion, according to a recent press release.
The newly established fund will focus on developing two high-impact real estate projects in Riyadh and Jeddah to bolster the Saudi real estate market.
In Riyadh, the fund will back the development of a luxury residential project in Al Khuzama district, featuring a diverse range of private residences, premium services, and architectural designs aligned with Saudi Arabia's modern vision.
In Jeddah, the fund will support a mixed-use development in North Jeddah along King Abdulaziz Road. The development scheme will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations.
Naif Saleh Alrajhi, Chairman and CEO of Naif Alrajhi Investment, commented: 'This collaboration reflects our ongoing commitment to developing distinctive real estate projects that enhance quality of life.'
Naif Al-Mesned, CEO and Managing Director of Aljazira Capital, stated: '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.'
Bandar Al-Hogail, Head of Real Estate Assets at Aljazira Capital, noted: '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.'
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