Riyad Capital, one of the Kingdom’s largest asset managers and a prominent real estate investment firm, has announced the launch of a new residential development fund. The fund is valued at SAR 1.7 billion ($453 million) and was established in partnership with Mountain View KSA.

The capital is earmarked for the development of “ONE Mountain View,” a semi-gated residential community located in Riyadh’s Al Rimal District.

The project spans an area exceeding 152,000 square meters and will include more than 500 residential units. The development is designed to provide a modern residential environment focused on the growing demand for family-oriented housing in the Saudi capital. Key features of the community include extensive green spaces and landscaped areas, which are intended to enhance the quality of life for residents. The development will also feature a dedicated community centre named The Lighthouse, a key component in promoting a cohesive and integrated residential environment.

Hesham Alzaid, Managing Director of Real Estate at Riyad Capital, commented on the announcement. He said, “This fund represents an important addition to Riyad Capital’s expanding real estate development portfolio and reflects our continued commitment to supporting high quality residential projects that meet the needs of families in Riyadh. One by Mountain View project incorporates thoughtful planning, generous green spaces, and modern residential layouts in a strategic location. This project also reflects the diversity of Riyad Capital’s real estate portfolio, which includes commercial, residential, and mixed-use assets, strengthening our presence across key development sectors and creating attractive investment opportunities.”

Mr. Ahmed Rashed, CEO of Mountain View KSA, also spoke about the collaboration. He stated, “We are proud of this collaboration with Riyad Capital to launch the development fund for the ‘ONE Mountain View’ project, which represents an important step in Mountain View’s expansion journey in the Kingdom. This project embodies our vision of offering modern residential communities that focus on quality of life and are built on more than twenty years of experience in developing communities based on the concepts of happiness and innovation. Through this partnership, we reaffirm our commitment to providing real added value to the city of Riyadh, and to building integrated residential environments that meet the aspirations of families and keep pace with the rapid urban growth the Kingdom is witnessing.”

The launch of this fund demonstrates Riyad Capital’s dedication to diversifying its real estate investments and backing projects that provide sustainable value for both residents and investors, thereby supporting balanced and long-term urban development in Riyadh.