Mulkia Investment's Aljawhara Real Estate Fund successfully exited SAR 4.2 billion worth of assets through sales of prime land parcels in Riyadh, reflecting strategic asset management and favorable market conditions.

Target Information

Mulkia Investment's Aljawhara Real Estate Fund has successfully completed its exit from managing real estate assets in Saudi Arabia, specifically through the sale of two major land plots. The second land parcel was sold for over SAR 1.5 billion, encompassing an area exceeding 515,000 square meters in the Al-Raid district of Riyadh. This sale follows the earlier transaction of a larger plot measuring 932,000 square meters, which brought in SAR 2.65 billion. Consequently, the total value of assets exited by the fund reaches approximately SAR 4.2 billion in 2023.

The Aljawhara Fund was transitioned to Mulkia Investment in early 2020, with the primary goal of meeting its objectives and protecting the interests of the unitholders. The successful completion of these transactions was facilitated by robust support from the Capital Market Authority (CMA), the fund's board of directors, the operational team, and other key contributors who played a significant role in these sales.

Industry Overview

The real estate sector in Saudi Arabia has seen unprecedented growth in recent years, driven by both local and international investment. The government's Vision 2030 initiative aims to diversify the economy and reduce dependency on oil reven