Asas Makeen signs deal with 2 firms to set up SAR 140M real estate fund

Asas Makeen said the fund will be managed by Dinar Investment as the licensed fund manager.

Asas Makeen Real Estate Development Co. signed a final agreement with Abdulaziz & Saad Al Moajil Trade & Investment Co. and Dinar Investment Co. to establish a private, closed-ended real estate investment fund with total investments of SAR 140 million.

In a statement to Tadawul, the company said all parties completed the signing on Jan. 26. The fund aims to develop residential and commercial units aligned with market demand and modern standards of quality of life and design.

Dinar Investment will act as the licensed fund manager, subject to obtaining approval from the Capital Market Authority (CMA) and fulfilling all regulatory and procedural requirements under the Capital Market Law and its executive regulations.

The company expects the project’s positive financial impact to appear in its financial results from the start of implementation and will increase gradually in line with actual completion rates.

According to Argaam data, Asas Makeen signed a memorandum of understanding with Al Moajil Co. in July 2025, as part of its strategy to expand in the real estate development sector.