The AlJazira Capital company and Ajdan Real Estate Development signed an agreement to establish a closed private real estate investment fund during the "Eastern Restatex Real Estate Exhibition" held in the city of Al Khobar from October 31 to November 3, 2023.

Mr. Nayef alMisnad, the CEO and Managing Director of AlJazira Capital, explained that the targeted investment size for the fund exceeds 600 million Saudi Riyals. The fund's investments will primarily focus on the development of various mixed-use residential and commercial projects in the city of Al Khobar.

On the other hand, Mr. Bandar Al-Haqil, the Head of Real Estate Assets at AlJazira Capital, stated that the main goal of the fund is to enhance the growth of invested capital through acquiring land in Al Khobar and developing projects with high-quality designs distinguished by a luxurious lifestyle.

Engineer Mohammed Al-Otaibi, the CEO of Ajdan Real Estate Development, pointed out that the fund's launch aligns with the company's plan, aiming to create projects that cater to the increasing demand for mixed-use, residential, and commercial developments. It also aims to enhance the company's portfolio with comprehensive, quality-of-life integrated projects.