Alistithmar Capital, the investment arm of The Saudi Investment Bank, announces the establishment of a private real estate investment fund and the completion of the acquisition of Tuwaiq Residential Complex in Riyadh.
The complex is located in the Tuwaiq district in western Riyadh along Makkah Road, spanning approximately 710,000 square meters, with built-up areas exceeding one million square meters. The development comprises more than 200 residential buildings dedicated to workforce housing, in addition to a commercial zone featuring 84 retail units, a hotel building, a private hospital with a capacity of 120 beds, serviced apartment buildings, landscaped green areas, and various recreational facilities.
The project is considered one of the largest integrated workforce housing developments in Riyadh. It benefits from a strategic location near major roads and key development projects, and is situated approximately four kilometers from Jeddah Road Station. The fund intends to complete the remaining works and commence operations in collaboration with a specialized workforce housing developer and operator.
This investment responds to the growing demand for integrated workforce housing solutions and aims to enhance living standards and service quality within this vital sector.
