AlJazira Capital, Osus launch real estate investment fund

AlJazira Capital Co. and Osus Real Estate Co. launched a private closed-end real estate investment fund (REIT) with a targeted investment volume of more than SAR 1.7 billion. 

The fund will mainly focus on developing mixed-use projects (residential, hotel, office, commercial) north of Riyadh. 

Naif Almesned, CEO and Managing Director of Aljazira Capital said that the main goal of the new fund is to boost the growth of invested capital by acquiring lands in the north of Riyadh to develop integrated, high-quality projects. 

Abdulah Almajed, Chairman of Osus Real Estate, indicated that the fund’s launch comes within the company’s plan to create and offer a number of real estate investment funds to bridge the gap between demand and supply in the real estate market. 

The launch of the fund was announced during the Cityscape Global held in Riyadh from Sept. 10 to 13 in the presence of the Minister of Municipal, Rural Affairs and Housing Majed Al-Hogail.