Saudi Railway Company sets up SAR6 billion real estate fund in Makkah in collaboration with Riyad Capital to develop a large-scale.
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Saudi Railway Company sets up SAR6 billion real estate fund in Makkah in collaboration with Riyad Capital to develop a large-scale.
Saudi Railway Company sets up SAR6 billion real estate fund in Makkah in collaboration with Riyad Capital to develop a large-scale, mixed-use project on a 90,000-square-meter land plot in the Al-Rusifah district, adjacent to the busy Haramain High-Speed Railway Station.
The project will follow the Transit Oriented Development (TOD) model, integrating residential, commercial, and hotel facilities that cater to residents and visitors alike, aligning with Makkah’s development goals and boosting investment in the city’s key growth areas.
Dr. Abdullah Alshwer, CEO of Riyad Capital, called the partnership a strategic milestone enhancing their real estate presence and supporting Saudi Arabia’s urban infrastructure modernization efforts. The fund aims to enhance connectivity and facilitate religious tourism as part of the Kingdom’s expanding railway network.
Riyad Capital, one of the largest asset managers in Saudi Arabia, manages over $25.8 billion in assets and has a diverse global real estate portfolio valued over $6 billion. Ranked among the Middle East’s top asset managers by Forbes, the firm continues to lead sustainable urban investment aligned with Saudi Vision 2030.
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