Riyadh — Mubasher: Al Ramz Real Estate Company announced the signing of an agreement with SNB Capital, the investment banking and asset management arm of the Saudi National Bank (SNB).
The deal aims to establish a Sharia-compliant real estate investment fund with a target size exceeding SAR 3.60 billion, according to a bourse disclosure.
The fund is dedicated to developing a mixed-use residential and commercial project in Riyadh’s Al Raed district, specifically within the Al Jawhara masterplan.
Under the terms of the agreement, Al Ramz Real Estate holds 100% of the fund’s units.
Meanwhile, the development contract is valued at approximately SAR 1.20 billion, with Al Ramz Real Estate set to receive a 10% development fee, estimated at SAR 120 million, and a 2.5% marketing fee based on total sales.
The project will be constructed on a land area exceeding 90,000 square meters and is expected to deliver 2,505 residential apartments alongside commercial spaces.
Al Ramz Real Estate has been awarded and signed the contract on 30 July 2026, while its duration is approximately five years, continuing until the completion of sales.
The real estate developer expects the financial impact of this transaction to be reflected in its performance across the years from 2026 throughout 2031.
It is worth noting that the project site is located near several key landmarks, including King Abdullah Financial District (KAFD) and King Saud University.
On 30 June 2026, Al Ramz Real Estate also signed a deal with Oud Capital to establish a Sharia-compliant real estate investment fund.
