First published: 01-Jul-2026 11:11:09

Staff Writer

Al Ramz Real Estate Company will set up a Shariah-compliant real estate investment fund to develop its existing residential projects.

The fund will exceed 1 billion Saudi riyals ($266.56 million) and will be managed by Oud Capital Company, the developer said in a statement to the Saudi stock exchange.

The projects will cover a total land area of 70,516 square metres (sqm) and are expected to include more than 800 residential units.

The development contract value is estimated at SAR 391 million, with Al Ramz receiving development fees of 10 percent (SAR 39 million) in addition to marketing fees of 2.5  percent  of total project sales.

The expected contract duration is three years, the statement added.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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