Al Soliman Real Estate signed an agreement to launch four investment funds with a total value of 3 billion SAR.
The announced funds will be directed towards providing more than 4,000 residential and commercial units covering an area of more than one million square metres across the cities of Riyadh and Mecca.
Some of the entities that will be managing the funds include Jadwa Investment, Tharwat for Financial Securities, Alawwal Capital, and NOMW Capital.
“We are confident that the agreements signed with our partners will provide a wider range of real estate products that adhere to international standards in line with the Vision 2030,” said Engineer Hamza Al-Bastanji, Al Soliman Real Estate’s CEO and board member.
Al Jadwa Investment will manage Al Soliman Investment Fund, which will entail the development of the Nukhbat Al Soliman suburb, providing more than 2,200 housing units in east Riyadh. Meanwhile, Tharwat for Financial Securities will manage Tharwat Soliman Fund in developing 550 luxury residential units in the city of Mecca, a project that is worth 402 million SAR.
Alawwal Capital will manage the Soliman Business Compound Fund, which entails the 310-million-SAR-worth commercial compound including 300 offices in northern Riyadh. This is in addition to the fund managed by NOMW Capital, the NOMW First Residential Fund, including 243 housing units within luxury units located in the north of Riyadh with a value of 245 million SAR.
