anb capital entered into a number of agreements at the Restatex Riyadh Real Estate Exhibition, which were signed in the presence of His Excellency Mr. Majid bin Abdullah Al-Hogail, Minister of Municipal and Rural Affairs and Housing, on 18 February 2024.

The total value of the agreements that were signed at the event by Mr. Khalid Al-Ghamdi, CEO of anb capital, exceeded SAR 2 Bn.

The first agreement was for the sale of a property by (anb capital Real Estate Opportunities Fund 3) in the Namar area of Riyadh. The property, with an area of about 1 Mn Sq.M and valued at around SAR 1 Bn, will be sold to Mosa bin Abdul-Aziz Al-Mosa & Sons Group. Its Chairman, Mr. Mosa Al-Mosa, signed the agreement on behalf of his company.

anb capital also signed an agreement with Aseel Company Limited, which was represented by its CEO, Eng. Faisal bin Sulaiman Al Rajhi, for the development of an office real estate project in the Narjis area of Riyadh (for anb capital Narjis Business Park Fund). The project covers an area of more than 51,000 Sq.M and is valued at SAR 750 Mn.

Furthermore, anb capital also signed an agreement with Alargan Projects, which was represented by its CEO, Eng. Eyad bin Abdul Rahman Al-Bunyan, for the development of a mixed-use real estate project in the Al-Hada area of Riyadh (for anb capital Alargan Real Estate Fund 3). The project covers an area that exceeds 23,000 Sq.M and is valued at SAR 300 Mn.

Mr. Khalid Al-Ghamdi, CEO of anb capital, stated on the occasion that anb capital has created strategic alliances with elite real estate developers with the objective of developing state of the art real estate projects in the Kingdom to benefit from the real estate boom that the Kingdom is witnessing. Mr. Al-Ghamdi further expressed his view that these strategic alliances with real estate developers will drive economic activity and uphold high standards of quality and sustainability in line with Vision 2030.