Riyadh - Mubasher: Alramz Real Estate Company has inked an agreement with SNB Capital to establish a Sharia-compliant real estate investment fund for the development of its Ramz Al Raed residential project in Riyadh’s Al Raed district.
The fund will have a target size of SAR 650 million that will be dedicated to financing the project’s development, according to a bourse statement.
Meanwhile, the Tadawul-listed company will act as the fund’s principal unitholder, as well as the project developer and exclusive marketer.
The residential development covers a 26,590 square meter (m2) land plot and includes around 500 apartments designed as an integrated housing community.
Alramz Real Estate will receive a development fee equal to 7% of the total development contract value, which will be determined after final designs and approvals. It will also earn a 2.50% commission on total sales generated by the fund.
On the other hand, SNB Capital will serve as the fund manager.
The project is expected to contribute positively to Al Ramz Real Estate’s financial performance over the 2026–2029 period while supporting the company's strategy to expand its real estate investment portfolio in high-demand locations within Riyadh.
In January 2026, Alramz Real Estate secured SAR 288 million in Sharia-compliant credit facilities from Saudi Awwal Bank (SAB).
