04/06/2026 03:52 AST
SAB Invest, the investment arm of Saudi Awwal Bank (SAB), has joined hands with Retal Urban Development Company for the launch of a CMA-regulated real estate investment fund valued at SAR1.9 billion ($502 million). The project will be developed on a 19,000sqm site in Riyadh's Almalqa district.
In a statement, the company said the fund is structured to optimise capital efficiency and risk management, with SAB committing financing of up to 50% of the total investment value.
This commitment reflects the strength of the underlying asset and the confidence of the partners in the project's long-term potential.
The CMA-regulated structure is designed to attract institutional and qualified investors seeking exposure to Riyadh's dynamic real estate market, while generating sustainable and long-term returns.
Ali Al Mansour, Managing Director & CEO at SAB Invest, said: "The Real Estate Fund for Retal Heights exemplifies our approach to capital efficiency and risk management. By diversifying funding sources and collaborating with trusted partners, we are strengthening investor confidence and delivering long-term value."
"This project is a testament to SAB Invest's role as an enabler of innovative, high-impact developments in the Kingdom," he stated.
Yasser Al Barrak, Chief Corporate and Institutional Banking Officer at SAB, said: "This fund reflects the bank's commitment to supporting landmark developments that contribute to the Kingdom's urban and economic transformation through innovative financing solutions and long-term strategic partnerships."
"We remain focused on enabling projects that align with Saudi Vision 2030 and strengthen Riyadh's position as a global destination for investment and business," he stated.
The project will be developed on a 19,000 sqm site in Almalqa district - one of northern Riyadh's most prominent and sought-after locations - along King Fahad Road.
This flagship development is designed as a premium mixed-use towers project, addressing Riyadh's growing demand across residential, commercial, and hospitality sectors, while making a significant contribution to the city's evolving skyline.
Retal CEO Eng. Kamal bin Ahmed said: "We are proud to join forces with SAB Invest and its collaboration with Saudi Awwal Bank. This project will set new benchmarks for quality and scale in Riyadh."
"Our combined expertise ensures that the development will meet the evolving needs of residents, businesses and visitors, while supporting the city's vision for a vibrant, globally competitive future," he stated.
The fund is aligned with the Royal Commission for Riyadh City's strategic direction to balance the real estate sector and drive sustainable urban growth, directly supporting Saudi Vision 2030's ambition to enhance Riyadh's competitiveness as a leading global city.
The project exemplifies the type of high-quality, large-scale development that will reinforce the Kingdom's position as a destination for investment, business, and lifestyle.
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