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Inmar Co. for Real Estate Development and Investment has signed a memorandum of understanding (MoU) with Al Rajhi Capital to explore setting up three real estate investment funds with a total value of SAR 1 billion. Announced on Tadawul, the 120-day agreement establishes a joint framework to evaluate the financial feasibility, conduct legal and property due diligence, secure necessary project financing, and seek regulatory approvals required for fund establishment.
The strategic partnership underscores the ongoing expansion within Saudi Arabia's real estate sector under Vision 2030 initiatives. By joining forces with Al Rajhi Capital, one of the Kingdom's leading investment banking and asset management firms, Inmar aims to leverage institutional capital to scale its commercial and residential development pipeline across key urban centers.
While Inmar noted that the financial impact cannot be quantified at this stage, successful execution of the funds could significantly bolster the company's asset base and long-term project revenue. Investors will be monitoring incoming regulatory approvals and fund structure details over the initial 120-day period and potential automatic extensions.
