Alistithmar Capital Announces the Launch of a Real Estate Fund with Ezdihar Real Estate Development Company to Develop the Jeddah Cove Project, Valued at SAR 1.1 Billion in Jeddah

The signing of the agreement

Investment Securities and Brokerage Company "Alistithmar Capital", the investment arm of the Saudi Investment Bank, announced the launch of a real estate fund investing in the commercial sector. The project is located in Jeddah, stretching one kilometer along the Jeddah Corniche, on a 140,000 square meter plot of land, surrounded by world-class hotels and close to major tourist attractions.

Mr. Khaled bin Abdulaziz Alrayes, CEO of Alistithmar Capital, explained that the company is continuing its expansion plans in the real estate market by launching a prestigious waterfront destination on the Jeddah Corniche in partnership with Ezdihar Real Estate Development Company. The project aims to offer a luxurious and high-quality leisure and commercial experience, reflecting modern real estate development trends in Jeddah. In response, Mr. Abdulmohsen bin Fawaz Al-Hokair, CEO of Ezdihar Real Estate Development Company, commented that through their strategic partnership with Alistithmar Capital, they aim to develop a commercial and entertainment destination that reflects Jeddah's status as one of the most prominent tourist destinations in the Kingdom of Saudi Arabia.

It is worth noting that Alistithmar Capital is a closed joint-stock company licensed by the Capital Market Authority of the Kingdom of Saudi Arabia to conduct activities as a principal and agent, underwrite, manage investment funds, manage client portfolios, arrange, advice, and safeguard securities. It is a wholly owned subsidiary of Saudi Investment Bank.