Launching a fund for the development of a project in North Riyadh with a size of 5.5 billion Riyals

Masharee, one of the largest real estate investment companies in the Kingdom of Saudi Arabia, has announced the launch of the Wadi Masharee Fund with a size of 5.5 billion riyals. This fund is dedicated to the construction of a mixed-use real estate project currently under development, located north of Riyadh between Diriyah and the New Square. Businessman Salamah bin Malhi bin Saidan, Chairman of the Board of Directors of Masharee, revealed that the launch of the fund is in line with the strategic directions recently announced by the company. He explained that the fund is fully owned by Masharee, and there are plans to offer a portion of the fund's units not exceeding 20% of its value. Salamah bin Malhi bin Saidan stated that the fund is dedicated to an under-construction project with a built-up area of approximately 600,000 square meters. It includes office buildings, a shopping area, cafes, a hotel, and residential buildings north of Riyadh. The fund has acquired the project's land. He added that this step confirms Masharee's determination to strengthen its leading position in the market, boost its business growth rates, and enhance the performance of its projects, especially as it is the largest real estate developer providing integrated real estate products for the private sector. Salamah bin Malhi explained that Masharee employs its accumulated expertise along with the latest global advancements in the real estate sector to offer diverse real estate products and options for the company's clients, while also providing investment opportunities for investors, enabling access to distinguished real estate assets. This is in line with the urban development that the Kingdom of Saudi Arabia is experiencing, contributing to the state's developmental projects in alignment with Saudi Vision 2030. Read More