SAB Invest, the investment arm of Saudi Awwal Bank (SAB), and Retal Urban Development Company have launched a $506.7 million (SAR1.9 billion) Capital Market Authority (CMA)-regulated real estate investment fund to support the development of a flagship mixed-use project in Riyadh.
The fund is structured to enhance capital efficiency and risk management, with SAB committing financing of up to 50 percent of the total investment value. The partners said the commitment reflects the strength of the underlying asset and confidence in the project’s long-term potential.
Designed to attract institutional and qualified investors, the CMA-regulated fund will provide exposure to Riyadh’s growing real estate market while targeting sustainable long-term returns.
The project will be developed on a 19,000-square-meter site in the Almalqa district, one of northern Riyadh’s most prominent locations, along King Fahad Road. The development will feature premium mixed-use towers catering to rising demand across the residential, commercial and hospitality sectors, while contributing to the city’s evolving skyline.
The fund aligns with the Royal Commission for Riyadh City’s strategy to support balanced real estate growth and sustainable urban development, in line with Saudi Vision 2030 goals to strengthen Riyadh’s competitiveness as a global city for investment, business and lifestyle.
The project represents a large-scale development initiative aimed at reinforcing Saudi Arabia’s position as a leading destination for investment and urban development while supporting the Kingdom’s long-term economic diversification objectives.
Ali Al Mansour MD and CEO – SAB Invest
“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.”
Yasser Al-barrak, Chief Corporate and Institutional Banking Officer at SAB Invest, said that, “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.”
Eng. Kamal bin Ahmed, Chief Executive Officer of Retal, stated that, “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.”
