Alistithmar Capital and Safa Investment Sign a cooperation agreement to launch real estate funds
Al-Istithmar Capital Brokerage Company “Al-Istithmar Capital”, the investment arm of The Saudi Investment Bank, announced the signing of a cooperation agreement with Safa Investment Company, with the aim of launching a number of real estate investment funds that are concentrated mainly in the field of real estate development for the residential sector in the main cities in the Kingdom, in particular the city of Riyadh.
The main objective of the funds to be established is to enhance the growth of the invested capital, through the acquisition of developed plots of land of various sizes in the targeted geographical areas with the aim of establishing high-quality residential complexes and selling them as real estate units ready for habitation, to exit from the funds and terminate them in the interest of the unit owners. .
Mr. Khaled bin Abdulaziz Al-Rayes, CEO of Investment Capital, explained that the company continues to search for real estate opportunities with attractive investment returns for investors interested in investing in the real estate market, and to provide these opportunities by offering real estate funds of all kinds according to the opportunities available on the one hand and aspirations. Investors on the other hand, and it is expected that the beginning of this cooperation with Safa Investment Company will be the launch of a real estate investment fund with a target size of 1.1 billion riyals.
On the other hand, Mr. Moaz bin Ahmed Al-Zaid, CEO of Safa Investment Company, commented that the agreement aims to establish and offer a number of real estate investment funds in order to bridge the gap between demand and supply in the real estate market in all its sectors through projects of a typical nature that target strategic and vital areas in the most prominent The neighborhoods of the city of Riyadh and other cities, as part of the company's plan to provide its model products in line with the aspirations of society in all its segments.
