Alawwal launches SR375m real estate fund

The Saudi joint stock company’s focus on the real estate sector stems from the fact that this sector is among the most promising ones in the Kingdom, a team of Alawwal executives told a press conference at Hilton’s Qasr Al Sharq hotel on Sunday.
The real estate sector is capable of absorbing more capital injections locally and from overseas. Market studies reveal that the Kingdom requires over 200,000 housing units annually.
To achieve the fund’s objectives, the expertise of Ulayya Real Estate Development has been called on. It is one of the pioneers in land development and is represented by Hamad Bin Seaidan who has over 30 years of real experience in the field.
The participation in the fund is open to both citizens and resident expatriates through its head office in Jeddah and branches in Riyadh and the Eastern Province. To facilitate participation in the fund, the company has formed a specialized team and has reached an agreement of cooperation with Samba and the National Commercial Bank.

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