Saudi-based Al Ramz Real Estate Company has announced the signing of an agreement for the establishment of a shariah-compliant real estate investment fund, to be managed by Oud Capital (the Fund Manager), for the purpose of developing the Al Ramz Front residential project in Jeddah.

Located on a 47,794 sq m area within the Al Firdous district, the integrated community development will boast a total of 900 residential units as well as key amenities. The target fund size is SAR650 million ($173 million), said Al Ramz Real Estate in its filing to the Saudi bourse tadawul. 

The Saudi group will participate in the fund with an in-kind contribution valued at approximately SAR81.6 million, representing a partial ownership of the land. Pursuant to the fund establishment agreement, the company will act as the developer and exclusive marketer of the project.

The total contract value for the integrated residential community is estimated at approximately SAR269 million. The company will receive development fees equivalent to 10% of the development value, in addition to marketing fees of 2.5% of the total project sales.

The project is expected to contribute to strengthening the company’s investment portfolio and supporting its sustainable growth.

The transaction is expected to positively contribute to Al Ramz Real Estate’s financial performance during the years 2026-2029.-TradeArabia News Service