Al Ramz Real Estate has signed an agreement to establish a Shariah-compliant real estate investment fund, to be managed by SNB Capital, for the development of a mixed-use residential and commercial project in northern Riyadh.

Under the agreement, Al Ramz Real Estate will own 100% of the fund units, with a target fund size exceeding SAR 3.6 billion. SNB Capital will act as the fund manager, reflecting Al Ramz’s confidence in the investment opportunities offered by Saudi Arabia’s real estate sector, particularly in locations characterised by strong demand and limited supply.

The project will be developed on a site spanning more than 90,000 square metres within Al Jawhara Masterplan in Al Raed District, on plots overlooking the park in Riyadh. The development will comprise 2,505 residential units alongside commercial spaces, in a strategic location with convenient access to several of Riyadh’s prominent destinations, including the Diplomatic Quarter, Al Urubah Park, the King Abdullah Financial District (KAFD), and King Saud University.

This acquisition forms part of Al Ramz’s strategy to advance the development of its Stone Al Raed project. It represents the company’s third land acquisition within Al Jawhara Masterplan, further enhancing the project’s integration and reaffirming Al Ramz’s commitment to delivering one of its largest residential developments in Riyadh.

Through its projects and investment partnerships, Al Ramz Real Estate continues to develop integrated urban communities that combine quality of life, investment efficiency, and strategic locations, in line with its vision of becoming the fastest-growing urban developer in Saudi Arabia by creating communities that overflow with comfort.