She introduced Riyad Capitalone of many largest asset managers and the main actual property funding firm within the Kingdom of Saudi Arabia, introduced that it had obtained a letter of appointment from the corporate Saudi Railways (SAR) To ascertain an actual property fund that goals to develop a mixed-use venture in keeping with the idea of (Transit Oriented Improvement – TOD), which is a worldwide mannequin that focuses on creating built-in city complexes subsequent to public transportation stations for the land positioned within the Rusaifah neighborhood subsequent to the Haramain practice station within the metropolis of Mecca, with an space of about 90 thousand sq. meters, and an estimated venture dimension of as much as 6 billion Saudi riyals.
This cooperation comes inside Riyad Capital’s path in the direction of supporting main growth tasks within the holy cities, and enhancing its position as a serious accomplice in growing the actual property infrastructure within the Kingdom, consistent with the aims of the Kingdom’s Imaginative and prescient 2030 in stimulating high quality investments and diversifying the nationwide economic system.
On this event, Dr. Abdullah Al-Shuwaier, CEO of Riyad Capital, mentioned:
“This venture represents a strategic step inside Riyad Capital’s efforts to boost its presence in the actual property growth sector, particularly in cities of spiritual and financial significance. Our cooperation with “SAR” displays our shared imaginative and prescient of remodeling the venture web site into a contemporary city vacation spot that retains tempo with the event aspirations of Mecca and supplies promising funding alternatives.”
The venture is positioned in a strategic location subsequent to the Haramain practice station within the Al-Rusaifah neighborhood within the Holy Metropolis of Mecca, and is anticipated to incorporate mixed-use parts that embrace lodges, business and residential facilities, which can improve the area’s place as a promising funding and growth vacation spot.
About Riyad Capital
Riyad Capital is a number one funding administration firm and the biggest custodian within the Kingdom of Saudi Arabia. Riyad Capital supplies built-in funding providers and options by way of its 4 enterprise sectors: asset administration, brokerage, company funding banking, and securities providers. In the actual property sector, Riyad Capital is taken into account the main firm, having launched the primary actual property funding traded fund within the Kingdom – Riyad REIT Fund – in 2016. The corporate’s actual property funding portfolio contains varied properties on three continents with a complete worth exceeding 23 billion Saudi riyals. Property managed by Riyad Capital amounted to greater than 97 billion Saudi riyals (about 25.8 billion US {dollars}), whereas belongings below custody exceeded 770 billion Saudi riyals (about 205 billion US {dollars}), as of June 2025. The corporate was additionally ranked among the many high 5 asset administration corporations within the Center East for the years 2024 and 2025 by Forbes, and it obtained the Most Excellent Custodian Award for 2024 within the Saudi Monetary Market Awards. 2025.
