Alistithmar Securities and Brokerage Company ("Alistithmar Capital"), the investment arm of Saudi Investment Bank, announced the signing of a real estate development agreement with Hiyazah Real Estate Development Company to develop a plot of land located on King Abdullah Road in Riyadh (Sahara Plaza).
The project spans 12,540 square meters and is a mixed-use development encompassing residential, office, and commercial sectors. It is also a Transit-Oriented Development (TOD) project. Located approximately 250 meters from the King Abdulaziz Road metro station, the project supports the development of an integrated destination that enhances quality of life and meets the growing demand for high-quality projects in Riyadh.
Mr. Khaled bin Abdulaziz Al-Rayes, CEO of Alistithmar Capital, explained that the partnership with Hiyazah Real Estate Development Company aims to achieve shared objectives in the real estate sector and provide investors with opportunities that align with their aspirations and the ongoing changes in the real estate market. He also explained that Investment Capital continues to target high-quality, value-added investment opportunities for investors interested in the real estate sector by offering structured real estate funds tailored to each project's needs, thereby ensuring optimal utilization and maximizing return on investment.
For his part, Mr. Adel bin Ahmed Al-Saif, CEO of Hiyazah Real Estate Development Company, explained that the strategic partnership with Investment Capital reflects Hiyazah's commitment to providing more high-quality investment opportunities in the real estate sector, as part of its efforts to offer high-quality real estate products that meet customer aspirations and support the sustainable value of projects.
It is worth noting that Alistithmar Capital is a closed joint-stock company licensed under Commercial Registration No. (1010235995) by the Capital Market Authority in the Kingdom of Saudi Arabia to conduct activities as a principal and agent, underwrite, manage investment funds, manage client portfolios, arrange, advise, and safeguard securities. It is a wholly owned subsidiary of the Saudi Investment Bank.
