A new international real estate investment platform, SL Property, has been launched through a strategic partnership between Al Saedan Real Estate and two global firms. The SAR 1.5 billion ($400 million) venture involves Serpentine Lake Capital from the United Kingdom and SGI Real Estate from Canada. The platform is dedicated to developing Al Saedan’s upcoming project pipeline across Saudi Arabia.

The joint venture will target a varied portfolio, including residential, commercial and hospitality developments. Additionally, the investment strategy covers vital infrastructure and data centres. This move follows the recent implementation of new regulations in January regarding non-Saudi real estate ownership, which aim to increase the flow of international institutional capital into the Kingdom.

“At Al Saedan, we are pleased to be among the first beneficiaries of the promising new foreign investment system. Following our success in raising several local investment funds, we look forward to expanding our expertise and partnerships at a global level,” said Dr Badr bin Ibrahim bin Saedan, Chairman of the Board of Al Saedan Real Estate.

The first phase of the programme intends to fund six to eight projects, primarily concentrated in Riyadh and Jeddah. These initiatives are designed to align with national development goals, such as improving urban quality of life and expanding digital services. Serpentine Lake Capital will provide asset management expertise, while SGI Real Estate brings specialised sector experience to the partnership.

“We are pleased to partner with Al-Saedan, whose strong track record provides a solid foundation for this collaboration. As the platform develops, we expect to explore opportunities to expand into real estate and infrastructure projects within the Kingdom of Saudi Arabia and beyond. The Kingdom represents a fast-growing market driven by clear structural factors, and we look forward to developing high-potential opportunities through a disciplined and focused approach,” said Ben Mikola, representative of Serpentine Lake Capital.

The signing took place at the Future of Real Estate Forum under the patronage of Majed bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing.