Alinma-Al-Nahdi Real Estate Fund Boosts Eastern Province Development

Real estate development in the Eastern Province is set to receive a significant boost with the launch of the Alinma-Al-Nahdi Real Estate Fund, valued at SR1.37 billion ($365 million). This fund, a collaboration between Mohammed Al-Nahdi Real Estate and Alinma Investment, aims to drive investment in prime land covering 1.6 million sq. m. strategically located in the Eastern Province.

The establishment of this fund highlights Mohammed Al Nahdi Real Estate's commitment to shaping the property landscape of the Kingdom. The focus is on enriching the investment portfolio with innovative projects that address the housing needs outlined in Saudi Arabia's 2030 Vision.

The development plans include the creation of integrated residential communities, public buildings, commercial zones, and entertainment areas to offer a comfortable and secure living environment for citizens, ultimately enhancing the region's overall quality of life. The project will be rolled out in stages during the implementation phase, providing investors and buyers with various ownership options tailored to their needs.

Alinma Investment's CEO emphasized that the fund's goal is to achieve medium-term capital growth through direct investments in the real estate sector of the Kingdom. This initiative aligns with Saudi Arabia's Vision 2030 by increasing the supply of housing units and boosting investment in the Eastern Province.

The strategically located land earmarked for development is situated along key roads in Dhahran, adjacent to the Ajyal residential district, ensuring easy access to prominent landmarks in Dammam, Alkhobar, and Dhahran. Mohammed Al-Nahdi Real Estate, established in 1993, boasts a robust portfolio of significant projects, while Alinma Investment, a leading provider of Shariah-compliant investment products and services, was founded by Alinma Bank with a capital of SR1 billion.

The introduction of the Alinma-Al-Nahdi Real Estate Fund signals a promising future for real estate development in the Eastern Province, aligning with the goals of Saudi Arabia's Vision 2030. This initiative not only aims to drive investment but also to enhance the living standards of citizens through the creation of modern and sustainable communities. With a focus on innovation and strategic planning, this project sets a positive trajectory for the region's growth and prosperity.