Latest news with #AljaziraCapital
Arab News
a day ago
- Business
- Arab News
Naif Alrajhi Investment, Aljazira Capital launch SR1.7bn fund
Naif Alrajhi Investment has formed a strategic partnership with Aljazira Capital to launch a closed private real estate investment fund. Valued at SR1.7 billion ($453.2 million), the fund will focus on the development of two high-impact real estate projects in Riyadh and Jeddah. 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. 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. Naif Saleh Alrajhi, chairman and CEO of Naif Alrajhi Investment, said: '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.' Naif Al-Mesned, CEO and managing director of Aljazira Capital, said: '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.' Bandar Al-Hogail, head of real estate assets at Aljazira Capital, added: '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.
Zawya
3 days ago
- Business
- Zawya
Naif Alrajhi Investment, Aljazira Capital launch $453mln real estate investment fund
Saudi investment firms Naif Alrajhi Investment and Aljazira Capital have partnered to launch a 1.7 Saudi billion riyal ($453 million) closed private real estate investment fund for the development of two high-impact real estate projects in Riyadh and Jeddah. In Riyadh, the fund will support the development of a luxury residential project in Al Khuzama district, and in Jeddah, it will support a mixed-use development along King Abdulaziz Road, a joint press statement said. The North Jeddah project will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations. Last week, Naif Alrajhi Investment had announced a partnership deal with the Saudi subsidiary of Morocco-based contractor TGCC (Travaux Généraux de Construction de Casablanca) to collaborate on the construction of projects developed by the Saudi company within the Kingdom. (Writing by SA Kader; Editing by Anoop Menon) (
Zawya
3 days ago
- Business
- Zawya
Naif Alrajhi Investment and Aljazira Capital launch a SAR 1.7bln real estate fund
Naif Alrajhi Investment has formed a strategic partnership with Aljazira Capital to launch a closed private real estate investment fund. Valued at SAR 1.7 billion, the fund will focus on the development of two high-impact real estate projects in Riyadh and Jeddah. 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.
Leaders
27-02-2025
- Business
- Leaders
Saudi Banks Shatter Records: Q4 2024 Earnings Surge to $5.57 Billion
The Saudi banking sector achieved its highest-ever quarterly net profit of SAR 20.90 billion in Q4-2024, according to Aljazira Capital's report, marking a historic milestone for the industry. This record-breaking performance aligns with Yoast SEO guidelines by emphasizing the key phrase 'Saudi banking sector' in the title and first sentence. Amid sector-wide growth, individual banks showed varying performances, with five out of ten listed institutions surpassing consensus estimates. Saudi Awwal Bank (SAB) and Al Rajhi Bank led the pack with earnings beats of 8.80% and 8.30%, respectively. However, Bank Aljazira and Riyad Bank lagged, missing forecasts by 15.50% and 8.60%, underscoring the uneven recovery across the sector. Driving Factors Behind the Surge Moreover, the surge in earnings stemmed from a 10.10% year-on-year (YoY) rise in net interest income to SAR 29.20 billion. Meanwhile, mortgage lending surged by 53.40% YoY, fueled by the Cityscape Global 2024 event, which boosted sales to over SAR 20 billion. This event acted as a catalyst, pushing the monthly mortgage run rate to SAR 10.10 billion in Q4-24. Looking at deposits, the sector's total deposits increased by 8.40% YoY to SAR 2.68 trillion, with Riyad Bank leading growth at 20.20% YoY, followed by Bank Aljazira at 15% YoY. These figures highlight robust customer confidence, setting a strong foundation for sustained expansion in 2025. Short link : Post Views: 138
Zawya
27-02-2025
- Business
- Zawya
Saudi banking sector records highest-ever quarterly earnings of $5.57bln in Q4-24
Riyadh – The Saudi banking sector posted highest-ever quarterly earnings of SAR 20.90 billion in the fourth quarter (Q4) of 2024, according to Aljazira Capital's report. Five out of ten listed banks posted above consensus earnings, with Saudi Awwal Bank (SAB) and Al Rajhi Bank leading by 8.80% and 8.30%, respectively. On the other hand, Bank Aljazira and Riyad Bank had biggest earnings misses of 15.50% and 8.60%, respectively. Bank wise, Banque Saudi Fransi posted the highest net income growth of 35% YoY in Q4-24. Earnings growth was mainly driven a 10.10% YoY rise in net interest income to SAR 29.20 billion during the October-December period. Mortgage lending recorded a leap driven by the Cityscape Global 2024 event that took place in November 2024 and saw sales exceeding SAR 20 billion. Overall, monthly run rate for mortgages hit SAR 10.10 billion in Q4-24, up 53.40% from SAR 6.60 billion in Q4-23. Total deposits for the sector grew by 8.40% YoY to SAR 2.68 trillion in the three-month period that ended on 31 December 2024. Riyad Bank logged in the highest growth in deposits of 20.20% YoY in Q4-24, followed by Bank Aljazira with 15% YoY.
