SAB Invest exits real estate fund for SAR 268 million with 35% ROI, Mohammed Al Habib Real Estate launches Azure’s Lamara complex

SAB Invest has successfully divested a fund in its real estate portfolio that includes Azure’s Lamara residential complex for SAR 268 million.

In a statement, the company clarified that the asset was acquired in collaboration with Mohammed Al Habib Real Estate Company. This marks the first exit from its real estate portfolio since launching its strategy in 2022, with the portfolio now valued at over SAR 3 billion.

Ali Almansour, Managing Director & CEO at SAB Invest, said: “This milestone is the culmination of a successful strategic partnership between the two parties, with Mohammed Al Habib Real Estate Company taking full responsibility for the project development and execution. The collaboration resulted in a return on investment (ROI) exceeding 35% in less than two years for the fund’s investors — a testament for the efficient management and execution quality.”

Abdullah Al Habib, CEO of Mohammed Al Habib Real Estate Company, commented:
“Our success in the Lamara project is a practical testament to the efficiency of our business model, which is rooted in high-quality execution, strict adherence to timelines, and delivering attractive returns for investors.”

The Lamara project spans a total area of 30,000 square meters and includes 319 residential units - townhouses to apartments. The project was completed and sold in less than two years, ahead of the planned schedule, according to the company’s statement.

Osama Alowedi, Chief Investment Officer at SAB Invest, highlighted that since the launch of the local real estate program, the company has invested in several prime real estate assets across Saudi Arabia, with a total asset value surpassing SAR 3 billion.

Waleed Bakarman, Head of Real Estate Investments at SAB Invest, added that the company’s real estate portfolio comprises properties with a total leasable area nearing 1,000,000 square meters. This includes approximately 850,000 square meters of mixed-use and residential properties featuring more than 1,500 residential units, along with commercial and logistics assets.

SAB Invest’s real estate portfolio consists of ready-to-sell residential units, ready-to-lease residential units, co-living residential projects, mixed-use developments, and logistics complexes.