Saudi Arabia plans three real estate funds

Saudi-based Enmar for Development and Real Estate Investment has reached a preliminary agreement with Al Rajhi Financial to explore the establishment of three real estate investment funds valued at one billion riyals. The goal is to develop and finance a variety of real estate projects within the Saudi market. The study will include asset evaluations, due diligence, and financing assessments. The memorandum will be valid for 120 days, with the possibility of extension if the work continues. This move highlights the company's emphasis on using these funds to finance real estate, provide investment opportunities for investors, and move away from reliance on traditional funding methods, amid the expanding real estate fund market in Saudi Arabia.

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