Saudi Arabia plans three billion-riyal real estate funds
Enmar for Development and Real Estate Investment, a Saudi company, has signed a memorandum of understanding with Al Rajhi Financial to study and establish three real estate investment funds with a total value of up to 1 billion Riyals. The memorandum aims to evaluate and develop these funds, including conducting necessary studies and obtaining the required regulatory approvals, with an initial duration of 120 days, renewable if the work continues. This move by Enmar reflects the company's recognition of real estate funds as a key method for financing and developing real estate projects, as well as an effort to expand the fund market in the kingdom to diversify sources of funding and attract investors.
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