Alramz signs deal to establish SAR 370M real estate fund

Alramz Real Estate Co.  signed an agreement to establish a Shariah-compliant real estate investment fund named “Alahli Alramz Assayel Residential Fund”, according to a Tadawul statement.

The fund will be equally owned by Alramz and Assayel Arabia Real Estate Co., a subsidiary of Ali bin Zaid Al-Qarishi & Brothers Co., and will be managed by SNB Capital.

The company noted that the fund will be established to develop the "Ramz Al-Raed 2" residential project in Al Raed district, Riyadh, with a target fund size of SAR 370 million.

Alramz will act as the project developer and exclusive marketer under the agreement. The project aims to develop an integrated residential community comprising approximately 290 apartments on a land plot spanning 15,131 square meters, before selling the units to end beneficiaries.

The company added that the value of the development contract will be determined upon completion of the required designs and regulatory approvals. Development fees have been set at 10% of the total development contract value, while Alramz will receive a 2.5% sales and marketing commission based on the fund’s total sales value.

The project scope includes, in particular, design, development, construction, marketing, sales management, as well as facilities and property management services.

The company indicated that the transaction is expected to positively contribute to its financial performance during 2026, 2027, 2028, and 2029.

The project reflects its strategy of delivering high-quality residential products that meet the needs of Riyadh’s real estate market in strategic locations characterized by strong demand and limited supply.

Alramz said the project is also expected to strengthen the company's investment portfolio and support its sustainable growth.