Thursday May 23rd, 2024
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Ezdihar Launches SAR 1.1 Billion Fund for Riyadh Office Park Project

Partnering with Al Istithmar Capital, Ezdihar will develop a 103,000 square metre plot on the King Saud University campus.

Scene Now Saudi

Ezdihar Launches SAR 1.1 Billion Fund for Riyadh Office Park Project

Saudi-based developer Ezdihar Real Estate Development Company has announced the launch of a SAR 1.1 billion (USD 267 million) real estate fund in collaboration with Al Istithmar Capital to develop a Grade A office park in Riyadh. Plans are in place to develop a 103,000 square metre plot located on the King Saud University campus on Price Turki I Road.

The development aims to build a large office complex that “promises substantial returns for investors” according to a statement from the company, with ample green spaces located around the business park.

“Through this partnership, we aim to meet and adapt to the evolving market demands by offering high-quality, value-added investment opportunities,” Khaled bin Abdulaziz Al Rayes, CEO of Al Istithmar Capital, tells SceneNowSaudi.

As Saudi Arabia continues to develop its position as a global hub for startups, the development of new office spaces is at the forefront of initiatives to promote growth in the sector.

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