Riyadh – Mubasher: MSGA Al Oula Real Estate Development Company, a subsidiary of MSGA Investment Company, signed an agreement to establish a closed-ended private real estate investment fund with a target size of SAR 700 million.
The partnership includes Dinar Investment as the fund manager and Asar Investment as the landowner, according to a bourse disclosure.
The fund aims to develop a residential project in the Al Wissam district of Riyadh, featuring approximately 1,000 residential units.
The land value for the project is set at SAR 259.62 million, excluding real estate transaction taxes and brokerage fees.
MSGA Al Oula will serve as the developer, with development fees capped at 15% of total construction costs.
Dinar Investment is tasked with establishing the investment structure, private placement of units, and ongoing fund management.
The agreement is valid for 90 days or until the fund’s formal establishment is complete. MSGA Investment expects the financial impact of this project to manifest positively in its 2027 and 2028 financial results, following the finalization of regulatory requirements and fund procedures.
The company began the listing of its shares on the parallel market (Nomu) on 8 July 2026.
