Latest news with #RiyadCapital
Arabian Business
6 days ago
- Business
- Arabian Business
Riyad Capital announces $270mn project in Saudi city of Abha
Riyad Capital, one of the largest asset managers and a real estate investment company in Saudi Arabia, has launched its first real estate development initiative in the Southern region. The Shalalat Abha Project, in collaboration with Mdr Development, will be valued at over SAR1 billion (US$270 million). A total area of approximately one million square meters will be developed in the city of Abha. Mdr Development will execute the essential infrastructure works, which will ensure the land is ready for future development for commercial, tourism, entertainment, and residential use. Strategic southern expansion As Riyad Capital's inaugural real estate venture in the southern region, it is in line with the company's objectives to foster regional growth across the Kingdom and deliver compelling investment opportunities to both local and international stakeholders. Located in the east of Abha, the project benefits from proximity to Abha International Airport and King Khalid University. Infrastructure development will begin in the second quarter of 2025, and is expected to take two years for completion. Abha, the capital of Aseer Province, is situated at an altitude of 2,270 meter, and is a well-known tourism destination because of its natural beauty and the proximity to the sea. Aseer is currently undergoing rapid transformation through the ambitious ' Aseer Development Strategy,' which aims to enhance urban environments and promote sustainable economic growth. Dr Abdullah Alshwer, CEO of Riyad Capital, commented: 'The launch of the Shalalat Abha Project marks a new and distinguished milestone in our real estate expansion plans. This step comes at a time when the Aseer region is undergoing strategic transformations, positioning it as one of the Kingdom's most attractive investment destinations given its natural and economic potential. 'We believe this project will have a tangible social and economic impact on the region, contributing to improved quality of life and providing diverse residential and commercial offerings.' Hamad Al-Meshaal, CEO of Mdr Development, added: 'The Shalalat Abha Project is one of the most distinctive in the region and represents a qualitative addition to Aseer. 'Mdr Development places great emphasis on this project as one of its key priorities. We expect the project to significantly enhance tourism and investment and help drive development across the region.' Riyad Capital, through its four businesses – asset and wealth management, brokerage, corporate investment banking, and securities services –offers end-to-end investment management solutions. It is recognised as a pioneer in the Saudi real estate market, having launched the country's first listed REIT (Riyad REIT) in 2016. The company's real estate portfolio, spanning three continents, has reached a total value exceeding US$6 billion.
Zawya
6 days ago
- Business
- Zawya
Riyad Capital launches $266mln mixed-use project in Abha
Riyad Capital, one of the largest asset managers and a pioneering real estate investment company in Saudi Arabia, has announced the launch of its premium project - Shalalat Abha - being set up at an investment of more than SAR1 billion ($266.4 million) in collaboration with Mdr Development. The deal was inked on the sidelines of the Aseer Investment Forum held at King Khalid University in Abha, under the patronage of Turki bin Talal Al Saud, Governor of Asir Region. Unveiling the key development, Riyad Capital said this marks its first real estate development initiative in the kingdom's southern region. Spanning over one million sq m area in the city of Abha, the project is in line with Riyad Capital's strategy to expand and diversify its real estate portfolio geographically, with a strategic emphasis on high-potential regions such as Aseer - currently undergoing rapid transformation through the ambitious 'Aseer Development Strategy,' which aims to enhance urban environments and promote sustainable economic growth. The essential infrastructure works are being implemented by Mdr Development. These works will ensure the readiness of the land for future development for multi-purpose use, including commercial, tourism, entertainment, and residential purposes. Commenting on the launch, CEO Dr Abdullah Alshwer said: "The launch of the Shalalat Abha Project marks a new and distinguished milestone in our real estate expansion plans. This step comes at a time when the Aseer region is undergoing strategic transformations, positioning it as one of the kingdom's most attractive investment destinations given its promising natural and economic potential." "We believe this project will have a tangible social and economic impact on the region, contributing to improved quality of life and providing diverse residential and commercial offerings," he stated. Mdr Development CEO Engineer Hamad Al Meshaal said: "The Shalalat Abha Project is one of the most distinctive in the region and represents a qualitative addition to Aseer. Mdr Development places great emphasis on this project as one of its key development priorities." "We expect the project to significantly enhance tourism and investment and help drive development across the region," he noted. Strategically positioned to the east of Abha, the project benefits from proximity to Abha International Airport and King Khalid University, while enjoying a central location amid key services and landmarks. Infrastructure development is set to commence in Q2, with the development completion expected to be within the following two years, said Al Meshaal. As Riyad Capital's inaugural real estate venture in the southern region, this project underscores the company's dedication to fostering regional growth across the kingdom and delivering compelling investment opportunities to both local and international stakeholders, he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Argaam
6 days ago
- Business
- Argaam
Riyad Capital Launches Shalalat Abha Project with a Value Exceeding SAR 1 Billion in Collaboration with Mdr Development
Riyad Capital, one of the largest asset managers and a pioneering real estate investment company in Saudi Arabia, announced the launch of the Shalalat Abha Project, with a value exceeding SAR 1 billion, in collaboration with Mdr Development, on the sidelines of the Aseer Investment Forum held at King Khalid University in Abha, under the patronage of HRH Turki bin Talal Al Saud, Governor of 'Asir Region. The project marks Riyad Capital's first real estate development initiative in the Southern region. The project aims to develop a total area of approximately one million square meters in the city of Abha, including the execution of essential infrastructure works by Mdr Development. These works will ensure the readiness of the land for future development for multi-purpose use, including commercial, tourism, entertainment, and residential purposes. The project is in line with Riyad Capital's strategy to expand and diversify its real estate portfolio geographically, with a strategic emphasis on high-potential regions such as Aseer—currently undergoing rapid transformation through the ambitious 'Aseer Development Strategy,' which aims to enhance urban environments and promote sustainable economic growth. Commenting on the launch, Dr. Abdullah Alshwer, CEO of Riyad Capital, said: 'The launch of the Shalalat Abha Project marks a new and distinguished milestone in our real estate expansion plans. This step comes at a time when the Aseer region is undergoing strategic transformations, positioning it as one of the Kingdom's most attractive investment destinations given its promising natural and economic potential. We believe this project will have a tangible social and economic impact on the region, contributing to improved quality of life and providing diverse residential and commercial offerings.' Eng. Hamad Al-Meshaal, CEO of Mdr Development, stated: 'The Shalalat Abha Project is one of the most distinctive in the region and represents a qualitative addition to Aseer. Mdr Development places great emphasis on this project as one of its key development priorities. We expect the project to significantly enhance tourism and investment and help drive development across the region.' Strategically positioned to the east of Abha, the project benefits from proximity to Abha International Airport and King Khalid University, while enjoying a central location amid key services and landmarks. Infrastructure development is set to commence in the second quarter of 2025, with the development completion expected to be within the following two years. As Riyad Capital's inaugural real estate venture in the southern region, this project underscores the company's dedication to fostering regional growth across the Kingdom and delivering compelling investment opportunities to both local and international stakeholders.
Trade Arabia
6 days ago
- Business
- Trade Arabia
Riyad Capital launches $266m mixed-use project in Abha
Riyad Capital, one of the largest asset managers and a pioneering real estate investment company in Saudi Arabia, has announced the launch of its premium project - Shalalat Abha - being set up at an investment of more than SAR1 billion ($266.4 million) in collaboration with Mdr Development. The deal was inked on the sidelines of the Aseer Investment Forum held at King Khalid University in Abha, under the patronage of Turki bin Talal Al Saud, Governor of Asir Region. Unveiling the key development, Riyad Capital said this marks its first real estate development initiative in the kingdom's southern region. Spanning over one million sq m area in the city of Abha, the project is in line with Riyad Capital's strategy to expand and diversify its real estate portfolio geographically, with a strategic emphasis on high-potential regions such as Aseer - currently undergoing rapid transformation through the ambitious 'Aseer Development Strategy,' which aims to enhance urban environments and promote sustainable economic growth. The essential infrastructure works are being implemented by Mdr Development. These works will ensure the readiness of the land for future development for multi-purpose use, including commercial, tourism, entertainment, and residential purposes. Commenting on the launch, CEO Dr Abdullah Alshwer said: "The launch of the Shalalat Abha Project marks a new and distinguished milestone in our real estate expansion plans. This step comes at a time when the Aseer region is undergoing strategic transformations, positioning it as one of the kingdom's most attractive investment destinations given its promising natural and economic potential." "We believe this project will have a tangible social and economic impact on the region, contributing to improved quality of life and providing diverse residential and commercial offerings," he stated. Mdr Development CEO Engineer Hamad Al Meshaal said: "The Shalalat Abha Project is one of the most distinctive in the region and represents a qualitative addition to Aseer. Mdr Development places great emphasis on this project as one of its key development priorities." "We expect the project to significantly enhance tourism and investment and help drive development across the region," he noted. Strategically positioned to the east of Abha, the project benefits from proximity to Abha International Airport and King Khalid University, while enjoying a central location amid key services and landmarks. Infrastructure development is set to commence in Q2, with the development completion expected to be within the following two years, said Al Meshaal. As Riyad Capital's inaugural real estate venture in the southern region, this project underscores the
Argaam
25-05-2025
- Business
- Argaam
Saudi economic growth to accelerate in 2025, 2026: Riyad Capital
Riyad Capital expects the Saudi economic growth to accelerate in 2025 and 2026, with non-oil activities maintaining a robust growth trajectory, while oil activities are anticipated to rebound. 'We project continued solid growth for non-oil activities, fostered by a growth-oriented fiscal policy, supported by PIF, with a focus on increased investment spending which will support the non-oil economy in the coming years. After a strong growth rate of 4.8% in 2024, we forecast nonoil activities to expand by 4.1% in 2025 and 4.3% in 2026,' the brokerage wrote in its recent report titled 'Saudi Economic Chartbook – Q2 2025'. Riyad Capital forecasts Saudi crude oil production to expand in the next 15-18 months in order to entirely unwind its voluntary output cuts from 2023. 'We feel particularly vindicated in our view by OPEC's recent decision to accelerate this unwinding process in the months of May and June of this year. As a consequence, we project oil activities to grow by 3.5% in 2025, followed by a growth rate of 5.4% in 2026,' it added. Accordingly, the Kingdom's overall economic growth is set to pick up to 3.5% in 2025, before further climbing to 4.2% by 2026 after growing at a 1.8% clip last year. The brokerage also predicts a moderate inflation hike to 2.5% in 2025, following a 1.7% rise in 2024. For next year, inflation is projected to gradually ease to 2.3%. 'Finally, we expect the US Federal Reserve to stay on a measured rate cut trajectory and forecast rate reductions of 50 basis points in 2025 and in 2026. Accordingly, SAMA is projected to cut its official repo rate and reverse repo rate by the same amount,' it further stated.
