Tatweer Company and Al Rajhi Capital established Collaboration to launch an over SAR 2 billion investment fund to develop a multi-use project at Al-Urubah and Al-Takhassusi Roads in Riyadh’s Al-Rahmaniyah neighborhood.
Tatweer will oversee the project from pre-development to completion as the main developer. This is the first of the two parties’ pioneering programs to develop the fund’s capital, improve the capital’s infrastructure, and make it one of the world’s most prominent cities. To assure project success, Al Rajhi Capital will manage the investment fund and finance it.
Kingdom Tower, Al Faisaliah Tower, King Salman Park, the Diplomatic Quarter, and Laysen Valley are all within minutes of the project. The project will cover 74,000 square meters of land and exceed 250,000 square meters of building space.
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This enables the project’s potential uses, which are being investigated. This study’s consultant, Colliers International, ensures that all project elements meet the highest requirements. A major urban transformation in Riyadh will result from the two-phase project.
Mr. Hezam Bin Salamah Bin Saidan, Managing Director of Tatweer Company, commented: “We are delighted to announce our partnership with Al Rajhi Capital to manage the investment fund for our new project. This project aligns with the Kingdom’s objectives to enhance infrastructure and develop high-quality, community-focused initiatives that support Vision 2030. We believe it will be a key milestone in the capital’s growth, reinforcing its status as a leading global city”.
This project will be included in the portfolio of innovative projects that Tatweer Company and Al Rajhi Capital own. It seeks to provide high-caliber initiatives that enhance the city’s quality of life while generating viable investment returns. The goal of the project is to improve the capital’s standing as one of the most important cities in the world and contribute significantly to its infrastructure.
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“We are proud of our partnership with Tatweer, as this collaboration is a testament to the trust in our work and expertise. This project marks an important step in our mission to innovate urban development, one of the key goals of the Kingdom’s Vision 2030,” said Waleed AlHumaid, CEO of Al Rajhi Capital.
About Tatweer
Tatweer pioneered real estate development in the Kingdom, creating renowned communities including “Laysen Valley”, “Roshn Front”, and “The Business Gate”. Its goal is to add value to society and partners, promote sustainable growth, and improve quality of life.
About Al Rajhi Capital
Al Rajhi Capital’s goal is to provide you with high-quality, customized investment banking products and services, investments also follow Al Rajhi Capital Shariah Board rules. Leading banking products and services provider Al Rajhi Bank founded Al Rajhi Capital on strong beliefs and investment experience.
