Saudi: Naif Alrajhi Investment, Aljazira Capital launch $453mln real estate fund
Riyadh – Naif Alrajhi Investment joined forces with Aljazira Capital to launch a closed private real estate investment fund valued at SAR 1.70 billion, according to a recent press release.
The newly established fund will focus on developing two high-impact real estate projects in Riyadh and Jeddah to bolster the Saudi real estate market.
In Riyadh, the fund will back the development of a luxury residential project in Al Khuzama district, featuring a diverse range of private residences, premium services, and architectural designs aligned with Saudi Arabia's modern vision.
In Jeddah, the fund will support a mixed-use development in North Jeddah along King Abdulaziz Road. The development scheme will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations.
Naif Saleh Alrajhi, Chairman and CEO of Naif Alrajhi Investment, commented: 'This collaboration reflects our ongoing commitment to developing distinctive real estate projects that enhance quality of life.'
Naif Al-Mesned, CEO and Managing Director of Aljazira Capital, stated: 'The launch of this fund, in partnership with Naif Alrajhi Investment as a specialized real estate developer, reflects our strategy to diversify our investment offerings and reinforce our active presence in the real estate sector.'
Bandar Al-Hogail, Head of Real Estate Assets at Aljazira Capital, noted: 'The launch of this fund marks an important milestone in Aljazira Capital's strategy to offer a diversified portfolio of high-quality real estate investment products.'
Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 hours ago
- Zawya
PwC Middle East moving into its smart office building marks the first major handover at One Ninety
LMD welcomes leading global companies to Business Quarter A at One Ninety — its flagship business destination in New Cairo. Cairo, Egypt – Landmark Developments (LMD), one of the leading real estate developers in Egypt, specializing in creating transformative residential and commercial experiences, is proud to announce the delivery of Business Quarter A within its flagship development, One Ninety, in New Cairo. This milestone marks the first operational phase of the $1 billion mixed-use destination, positioning One Ninety as a thriving business and lifestyle hub where ambition, community, and creativity converge to redefine the way we live, work, and connect. With a forward-looking vision and a commitment to operational excellence, One Ninety's Business Quarter sets a new standard for the future of work — where productivity, collaboration, and community come together to empower today's leading enterprises. Business Quarter A is now a base for prestigious global tenants, most notably PwC Middle East in Egypt, which relocated its operations — including 900 employees — to One Ninety. This next-generation office space is designed with well-being, sustainability, and flexibility at its core, featuring uniquely themed rooms like a community garden, a wellness room for yoga and pilates, a library, and a maternity room. The rooftop includes indoor and outdoor seating, play areas, a juice bar, a games zone, and dedicated spaces for casual meetings and breaks. Demonstrating LMD's and PwC Middle East's mutual commitment to sustainability and innovation, the building incorporates motion-sensor lighting, advanced air filtration, noise insulation, and Demand-Control Ventilation (DCV) — a pioneering system that reduces energy consumption by adjusting airflow based on occupancy. PwC Middle East is one of the first offices in the region to install this cutting-edge technology, reinforcing the firm's Net Zero ambitions and aligning with LMD's vision for eco-conscious, future-forward urban development. 'We are proud to deliver Business Quarter A, the first fully operating component of One Ninety,' said Eng. Amr Sultan, Founder and CEO of LMD, 'This milestone is a direct reflection of our mission to create integrated communities that elevate standards of quality, design, and sustainability. Hosting global institutions like PwC Middle East and AAIB in Business Quarter A affirms our position as a developer redefining the real estate experience in Egypt.' 'PwC's presence in Egypt dates back to 1907, marking the start of a long-standing relationship with the country's business community. Over the decades, the firm has evolved to support national growth and development. Today, PwC Middle East in Egypt continues to play a critical role in delivering impact across industries as part of the firm's regional network,' said Maged EzzEldeen, Egypt Country Senior Partner, PwC Middle East. Additionally, the company is preparing to open in Quarter A, near the Arab African International Bank (AAIB), with its new national headquarters spanning a total area of 24,000 m². Meanwhile, Turkish Airlines, Fertiglobe by ADNOC, and the Chalhoub Group will soon begin operations. Complementing the corporate mix, an exciting variety of F&B brands and retail concepts, many of which are debuting in Egypt for the first time, will launch in both Quarter A and the adjacent Quarter D. Located at the strategic intersection of 90 Street and the Ring Road, near the 'One Ninety' monorail station. One Ninety is a fully walkable, thoughtfully master planned community spanning 344,315 square meters, integrating the Business Quarter, Cairo Design District, Urban Park, W Cairo The Residences, and the upcoming W Cairo Hotel — the first of its kind in Egypt and Africa. Construction of W Cairo is on track, with the full structural skeleton set for completion by the end of 2025. With Business Quarter A delivery, LMD reaffirms its leadership in delivering transformative, mixed-use developments that meet the evolving needs of global tenants while contributing to Egypt's future-ready urban growth. About PwC: At PwC, we help clients build trust and reinvent so they can turn complexity into a competitive advantage. We're a tech-forward, people-empowered network with over 370,000 members in 149 countries. Across audit and assurance, tax and legal, deals and consulting, we help build, accelerate and sustain momentum. Find out more at Established in the Middle East for over 40 years, PwC Middle East has 30 offices across 12 countries in the region with 12,000 people. ( PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see for further details. © 2025 PwC. All rights reserved
Khaleej Times
2 hours ago
- Khaleej Times
Harsh Middle East climate demands innovative cooling solutions
The Middle East presents some of the most extreme climate conditions globally — not just in terms of temperature, but also with challenges like high humidity, dust, and saline air in certain coastal areas. These factors demand highly specialized Heating, Ventilation, and Air Conditioning (HVAC) systems, an industry expert said. Beyond environmental conditions, the region is undergoing rapid urbanization. Over the last 10 to 15 years, countries like the UAE, Saudi Arabia, Egypt, Iraq, and Qatar have seen significant infrastructure growth — driven by both population expansion and landmark global events like the World Cup. 'Here, cooling isn't seasonal — it's essential all year round. HVAC systems operate 24/7, especially during the peak summer months of July and August, where even a single day without cooling is unimaginable. Our goal is to balance this constant demand with sustainable performance, by offering customized, high-efficiency, and climate-adaptive HVAC solutions that ensure indoor comfort while meeting strict energy standards,' Ahmed Aqel, General Manager, Johnson Controls-Hitachi Air Conditioning, MEA, said in an interview. Q: How do you see HVAC systems evolving to meet modern electrical and sustainability targets? A: HVAC systems have undergone a major transformation in recent years. With the integration of Internet of Things (IoT) technology, artificial intelligence (AI), and advanced energy recovery solutions, today's systems are far more intelligent, responsive, and energy-efficient. These innovations enable HVAC systems to automatically adapt to real-time conditions, optimize energy usage, and reduce operational costs. As a result, HVAC has become a critical component of sustainable building design and energy-conscious infrastructure planning. Q: How is Johnson Controls–Hitachi supporting green building codes and regional sustainability frameworks? A: Sustainability is deeply embedded in our operations. Globally and locally, we are fully aligned with energy efficiency regulations and green building codes. In the UAE, for instance, we comply with systems like Estidama Pearl Rating and Abu Dhabi's Urban Planning Council (UPC) guidelines. Our systems are designed from the ground up to meet — and often exceed — these requirements. We take a holistic design approach, focusing on seasonal efficiency, low emissions, and smart digital controls. One standout example is our leadership in inverter technology — Hitachi is one of the largest compressor manufacturers globally, and we've pioneered the use of inverter compressors to improve energy performance. In addition, our solutions incorporate intelligent controls and energy recovery systems that deliver immediate energy savings while also reducing long-term environmental impact. It's about enabling our customers to reduce carbon footprints while achieving operational excellence. Q: What is your outlook for the region in terms of sustainable development and expansion plans? A: The Middle East — and by extension, Africa — are critical markets for us. The region's unique climate, cultural dynamics, and rapid pace of urbanization make it a key focus within our global strategy. We're investing heavily in next-gen HVAC technologies designed specifically for regional needs. This includes strengthening our local partnerships, expanding training initiatives, and scaling operations to align with national sustainability goals such as the UAE's Net Zero 2050 initiative. Our commitment is twofold: deliver high-performance, energy-efficient solutions while ensuring that these solutions are environmentally responsible. We believe that sustainable development isn't just about new technologies — it's about creating long-term value for communities, economies, and the planet.
Khaleej Times
2 hours ago
- Khaleej Times
Al Tareq Star officially launches Norah Residence in the heart of Jumeirah Village Circle
Al Tareq Star, a leading real estate developer with a wide range of businesses and activities in Saudi Arabia, has announced strategic expansion plans in the UAE. These plans include launching a portfolio of real estate development projects across key locations in the country. As part of this expansion, the company has officially launched its first residential project in Dubai – Norah Residence – a smart and contemporary residential development in the heart of Jumeirah Village Circle, one of the city's fastest-growing residential areas. Jumeirah Village Circle is known for its high rental returns, increasing end-user demand, and strong appeal as a high-yield investment option for those seeking quality living, comfort, and community connection. The location also provides easy access to key highways including Sheikh Mohammed Bin Zayed Road, Al Khail Road, and Hessa Street, ensuring strong connectivity to Dubai's main destinations. The neighbourhood offers a growing mix of restaurants, cafés, retail centres, wellness and fitness facilities, and is home to popular hospitality destinations such as FIVE JVC. Norah Residence was developed in collaboration with the award-winning architectural firm NAGA Architects. The project includes 183 carefully designed units ranging from studios, one-bedroom, two-bedroom, two-bedroom duplex, and three-bedroom duplex apartments. The development combines smart home technologies with refined interior designs and provides a distinctive lifestyle experience. Residents enjoy access to recreational facilities including a cinema lounge, café, gym, yoga hall, and a children's play area. The units offer peaceful views overlooking the pool, Halfa Park, and the panoramic skyline featuring the iconic FIVE JVC hotel. Unit prices start at Dh650,000, with a special 40/60 payment plan, offering an attractive investment opportunity for both residents and investors seeking long-term value in Dubai's real estate market. The project is scheduled for handover by the end of Q2 2027. Norah Bint Tareq Bin Ali Al Tamimi, vice-chairperson of Al Tareq Star, said: 'At Al Tareq Star, we believe that housing goes beyond walls and structures. It creates a complete environment that supports growth and wellbeing. With Norah Residence, we were committed to delivering an urban model that reflects a modern quality of life. This project embodies our vision and mission to build contemporary communities.' With a strong legacy of over 80 years of combined experience in Saudi Arabia, Al Tareq Star continues to lead as a developer that merges cultural depth with innovation in modern design. Norah Residence marks the company's latest milestone and its debut project in Dubai.
