KSA’s Aljazira Capital, Osus establish real estate investment fund
RIYADH: In a bid to boost mixed-use projects in Riyadh, Saudi Arabia’s Aljazira Capital and Osus Real Estate Co. have launched a private closed-end real estate investment fund with a target investment volume of more than SR1.7 billion ($453.2 million).
Launched on the sidelines of Cityscape Global held in Riyadh, the initiative will mainly focus on the development of multi-purpose projects in the northern region of Riyadh, including residential, hotel, office, and commercial properties.
The CEO and managing director of Aljazira Capital explained that the primary objective of the fund is to boost the growth of investors’ capital, by the acquisition of land in the northern part of Riyadh and developing high-quality, integrated service projects, Argaam reported.