A significant new real estate development is set to transform Riyadh following a major investment agreement. Riyad Capital, a leading asset manager in the Kingdom, has confirmed the creation of a real estate fund valued at approximately US$ 400 million. The project is a joint venture between the firm, Her Highness Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company.

The development is situated on a prime 32,000 square metre plot on Al-Takhassusi Road. It is designed as a Transit-Oriented Development, meaning it is built to take advantage of its proximity to public transport. The site is located just 250 metres from the Al-Takhassusi Metro Station. It will include a blend of residential units, office spaces, retail outlets and hospitality facilities.

Her Highness Princess Munira bint Abdullah bin Faisal Al Saud commented: “This project reflects the importance of the strategic location on Al-Takhassusi Road and the value of the partnership with Riyad Capital and Naif AlRajhi Investment Company to develop a project that aligns with the evolving urban landscape of Riyadh. We look forward to this development becoming a distinctive addition that supports quality of life and keeps pace with the city’s growing needs.”

The scheme is the fourth transit-related project for Riyad Capital. Abdullah Abdulrahman Alshwer, PhD, CFA, CEO of Riyad Capital, stated: “This project represents an extension of our presence in the real estate sector and marks a new step in developing distinctive destinations in strategic locations across Riyadh, supported by its prime location on Al-Takhassusi Road. This partnership with Her Highness Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company reflects an integrated model that combines development expertise with investment management capabilities, enabling the delivery of a project that elevates the concept of mixed-use developments and aligns with evolving market expectations. This fund is part of our strategy to offer carefully structured investment opportunities built on strong fundamentals, enhancing value for investors. The project also represents Riyad Capital’s fourth Transit Oriented Development (TOD) project and contributes to supporting the objectives of Saudi Vision 2030, particularly in urban development and improving quality of life.”

Naif Saleh AlRajhi, Chairman and CEO of Naif AlRajhi Investment Company, added: “We see this project as a valuable addition to our real estate development portfolio, through which we aim to deliver a project that reflects high quality standards and meets the evolving expectations of the Riyadh market. This project also reflects our direction toward developing projects in prime locations, in partnership with Riyad Capital as a leading real estate investment firm, contributing to the delivery of an integrated experience aligned with Vision 2030.”

This move aligns with the goals of Saudi Vision 2030 by improving urban living standards and creating sustainable investment returns.