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Alistithmar Capital, the investment banking arm of Saudi Investment Bank, has partnered with Ezdihar Real Estate Development Company to launch a landmark real estate fund valued at SAR 1.1 billion. The fund has acquired the 'Jeddah Cove' project, a major commercial and leisure development located along the Jeddah Corniche. Spanning 140,000 square meters with a one-kilometer waterfront footprint, the project is situated near premier luxury hotels and major tourist landmarks in the coastal city.
The venture aligns with strategic initiatives to expand investment offerings within the Kingdom's real estate sector, tapping into growing demand for premium entertainment and retail destinations. Leadership from both Alistithmar Capital and Ezdihar emphasized that the joint venture aims to set new standards for high-end commercial infrastructure, reinforcing Jeddah's position as a primary hub for business and tourism under Saudi Arabia's Vision 2030.
For local capital markets, the launch reflects continued momentum in real estate investment funds (REIFs) and private equity partnerships in Saudi Arabia. Investors will be monitoring the fund's execution phase and future capital deployment, as ongoing expansion in commercial developments supports broader liquidity and economic diversification within the Saudi market.
