Prime Highlights-
- Al Ramz Real Estate and Oud Capital plan to launch a SAR 650 million fund to finance a major housing project in Saudi Arabia.
- The fund will support the development of Al Ramz Front, a new residential community in Jeddah.
Key Facts-
- The project will include around 900 homes spread across 47,794 square metres.
- Oud Capital will manage the fund, while Al Ramz will invest SAR 81.6 million and act as developer and marketer.
Background-
Al Ramz Real Estate and Oud Capital plan to launch a new real estate fund to raise SAR 650 million (US$ 173.3 million) to finance a housing project in Saudi Arabia.
The companies said the Shariah-compliant fund will support the development of Al Ramz Front, a residential community in the Al Firdous district of Jeddah. The project aims to meet the rising demand for modern housing in the city.
Oud Capital will manage the fund as Al Ramz Real Estate takes on multiple roles in the project. The company will work as developer and exclusive marketer, and will also participate in the fund as the landowner. It plans to invest around SAR 81.6 million into the project, showing its commitment to the development.
The Al Ramz Front project will cover 47,794 square metres and house around 900 homes. The development is planned as a full residential community, giving families a range of housing options to choose from.
The companies said the project reflects growing interest in structured real estate investments in the Kingdom. The Shariah-compliant fund is designed to draw in investors seeking opportunities that follow Islamic finance principles while offering steady returns.
Population growth and urban development keep driving demand in Jeddah, making it a key market.
Al Ramz Real Estate and Oud Capital are pooling their financial strength and development expertise through this fund to deliver the project on time. The companies expect the initiative to support housing supply and contribute to the broader growth of the Kingdom’s property market.
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