Riyad Capital has signed an agreement to establish a $400 million (SAR1.5 billion) real estate fund in partnership with Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company to develop the Dar Al Salam mixed-use project in Riyadh.
The development will span approximately 32,000 square meters and will include hospitality, office, residential, and retail components.
The project has been classified as a Transit-Oriented Development (TOD), reflecting Saudi Arabia’s broader focus on integrated urban planning and sustainable mobility solutions.
Located around 250 meters from the Al-Takhassusi Metro Station in Riyadh, the project is intended to support the creation of a connected urban destination aligned with the city’s ongoing expansion and rising demand for mixed-use developments.
HH Princess Munira bint Abdullah bin Faisal Al Saud commented that, “This project reflects the importance of the strategic location on Al-Takhassusi Road and the value of the partnership with Riyad Capital and Naif AlRajhi Investment Company to develop a project that aligns with the evolving urban landscape of Riyadh.”
Abdullah Abdulrahman Alshwer Riyad Capital CEO
“This partnership with Her Highness Princess Munira bint Abdullah bin Faisal Al Saud and Naif AlRajhi Investment Company reflects an integrated model that combines development expertise with investment management capabilities, enabling the delivery of a project that elevates the concept of mixed-use developments and aligns with evolving market expectations. The project also represents Riyad Capital’s fourth Transit Oriented Development (TOD) project and contributes to supporting the objectives of Saudi Vision 2030, particularly in urban development and improving quality of life.”
Naif Saleh AlRajhi, Chairman and CEO of Naif AlRajhi Investment Company, added that, “We see this project as a valuable addition to our real estate development portfolio, through which we aim to deliver a project that reflects high-quality standards and meets the evolving expectations of the Riyadh market. This project also reflects our direction toward developing projects in prime locations, in partnership with Riyad Capital as a leading real estate investment firm, contributing to the delivery of an integrated experience aligned with Vision 2030.
Riyad Capital said that the fund forms part of its broader strategy to expand investment opportunities in Saudi Arabia’s real estate sector and develop integrated urban destinations designed to deliver sustainable long-term returns while supporting economic growth.
