{"id":56890,"date":"2023-06-07T11:51:58","date_gmt":"2023-06-07T08:51:58","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=56890"},"modified":"2023-06-07T11:51:58","modified_gmt":"2023-06-07T08:51:58","slug":"%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1-%d8%b9%d9%82%d8%a7%d8%b1%d9%8a","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/56890\/","title":{"rendered":"Establishing a private real estate investment fund with a capital of 600 million riyals"},"content":{"rendered":"

Establishment of a real estate investment fund with a capital of 600 million riyals<\/strong><\/span><\/h4>\n

began \u00a0\u201cAl-Arjan Projects\u201d Company\u201d<\/a><\/strong> \u00a0\u00a0In establishing a closed-end, Sharia-compliant real estate investment fund with a capital of approximately 600 million riyals, in collaboration with Al-Arabi Financial Company, the fund acquired a 500,000-square-meter plot of land in the Al-Nadwa neighborhood east of Riyadh, which will be developed into a mixed-use residential and commercial complex.<\/p>\n

On this occasion, Abdulrahman bin Abdullah Al-Tawil, Undersecretary of the Ministry of Municipal, Rural Affairs, and Housing for Stimulating Housing Supply and Real Estate Development, explained that the signing of the agreement is part of efforts to strengthen Partnerships with the Private Sector<\/a><\/strong> Encouraging financial and investment institutions to increase their investments in the real estate sector to help drive the sector\u2019s growth and increase the supply of real estate in the Kingdom, in order to achieve the goals of the Housing Program\u2014one of the programs under the Kingdom\u2019s Vision 2030 \u2014by raising the homeownership rate among citizens to 70% by 2030.<\/p>\n

He noted that the ministry is working to create a stimulating investment environment that will help attract more housing projects, identify the best solutions and resources to improve the outcomes of real estate projects, and enhance the quality of housing products in the real estate development sector.<\/p>\n

It is worth noting that the Ministry of Municipal, Rural Affairs, and Housing is working to increase the housing supply in Saudi cities, and, in partnership with real estate developers, aims to bring 365,000 new housing units to market by 2025 to meet the aspirations of Saudi families and achieve the highest standards of quality of life as a strategic goal, and to provide a variety of housing options at affordable prices.<\/p>\n

 <\/p>\n

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