New real estate fund aims to build more than 100 housing units in Riyadh

New real estate fund aims to build more than 100 housing units in Riyadh

Saudi Deputy Minister for Real Estate Development Abdulrahman Al-Tawil inaugurated Arjan Al-Maghames Real Estate Investment Fund, which is part of ongoing efforts to form partnerships with the private sector in order to increase the real estate supply in the Saud cities and provide more housing options for Saudi families, in line with their aspirations and wishes.

The Fund, which is a joint project between Arjan Architects and BlOMINVEST, aims to build more than 100 housing units in northern Riyadh over 30 thousand square meters.

The Deputy Minister commended MOMRAH’s efforts in supporting the agreements and partnerships with the private sector. The fund also aligns with the goals of the Housing Program, one of the initiatives under Saudi Vision 2030, which aims to provide adequate housing opportunities for Saudi families.

The initiative to promote housing supply and real estate development aims to enhance the supply and provide land and investment opportunities for landowners, developers, and financing institutions in the real estate market, in addition to encouraging the private sector and landowners to participate in developing housing solutions.

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