Al Saedan Real Estate, in partnership with Serpentine Lake Capital and SGI Real Estate, announces the launch of a SAR 1.5 billion investment platform for real estate, infrastructure, and data center development in the Kingdom

Al Saedan Real Estate Company of the Kingdom of Saudi Arabia, in collaboration with Serpentine Lake Capital of the United Kingdom and SGI Real Estate of Canada, announced the establishment of a joint development and investment platform under the name SL Property. The platform aims to develop commercial, residential, and hospitality projects, alongside infrastructure and data center projects, across the Kingdom of Saudi Arabia.

The platform reflects the growing international interest in Saudi Arabia’s real estate and digital infrastructure markets and supports the development of high-quality, long-term assets within the Kingdom.

This development follows the issuance of the Non-Saudi Real Estate Ownership and Investment System in the Kingdom of Saudi Arabia, which comes into effect in January 2026. The updated regulatory framework is expected to expand access to international investment, facilitate foreign investor participation in strategic sectors, and increase the depth of institutional capital flowing into the real estate, infrastructure, and data center sectors in the Kingdom.

The platform is targeting initial joint investments of SAR 1.5 billion in partnership with Al Saedan Real Estate, representing the first phase of a broader, multi-stage investment program. In its initial phase, SL Property – Al Saedan intends to invest in six to eight projects across real estate, infrastructure, and data centers, with additional opportunities anticipated as the platform’s activities expand in the future.

The initial projects will be concentrated in Riyadh and Jeddah, and will include mixed-use developments, commercial assets, residential projects, and infrastructure related to data centers. These projects are designed to be scalable, sustainable, and aligned with national development priorities, including housing expansion, enhancement of urban quality of life, hospitality sector growth, and strengthening the Kingdom’s digital services capabilities.

Al Saedan Real Estate is one of the oldest private real estate development companies in Saudi Arabia, with more than 80 years of operational experience and a strong track record that includes the development of seven major integrated urban communities, in addition to numerous commercial, hospitality, and associated infrastructure projects.
 

The SL Property platform will serve as a dedicated investment vehicle for this initiative, with Serpentine Lake Capital contributing its asset management expertise, while SGI Real Estate provides its specialized real estate sector experience. The platform’s structure is intended to combine local development capabilities with disciplined international investment practices and robust governance standards.

This initiative aligns with the Kingdom’s economic diversification objectives and reflects growing confidence in the updated regulatory framework governing the real estate and digital infrastructure sectors. As the platform evolves, it is expected to provide both local and international investors with access to high-quality investment opportunities across the real estate and data center sectors throughout the Kingdom.

Dr. Eng. Badr bin Ibrahim bin Saedan, Chairman of the Board of Al Saedan Real Estate, stated:

“At Al Saedan, we are pleased to be among the first beneficiaries of the promising new foreign investment system. Following our success in raising several local investment funds, we look forward to expanding our expertise and partnerships at a global level.”

Ben Mikola commented:

“We are pleased to partner with Al Saedan, whose strong track record provides a solid foundation for this collaboration. As the platform develops, we expect to explore opportunities to expand into real estate and infrastructure projects within the Kingdom of Saudi Arabia and beyond. The Kingdom represents a fast-growing market driven by clear structural factors, and we look forward to developing high-potential opportunities through a disciplined and focused approach.”

Signing Ceremony

The agreement signing ceremony was held under the patronage of His Excellency Mr. Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Board of the General Real Estate Authority, as part of the Future of Real Estate Forum, in which Al Saedan Real Estate participated as a Strategic Sponsor.

The ceremony was attended by:
 

- His Excellency Dr. Eng. Badr bin Ibrahim bin Saedan, Chairman of the Board – Al Saedan Real Estate.
 

- His Excellency Mohammed bin Saeedan, Board Member – Al Saedan Real Estate.

- Mr. Ben Mikola, Representative of Serpentine Lake Capital and SL Property.

- Mr. Hassan Al-Shawwa, Representative of SGI Canada.

The attendance reflects the strategic importance of the initiative and the continued support of the Authority in facilitating the attraction of high-quality international investments into the Kingdom’s real estate and digital infrastructure sectors.

About Al Saedan Real Estate

Al Saedan Real Estate is one of the oldest private real estate development companies in Saudi Arabia, with more than 80 years of experience in real estate, infrastructure, and large-scale land development. The company has played a pivotal role in shaping the Kingdom’s modern urban landscape through the development of seven major integrated communities in key cities, with a continued focus on sustainable development, operational excellence, and long-term value creation in support of national economic transformation objectives.

About Serpentine Lake Capital

Serpentine Lake Capital is a real assets investment management firm focused on energy, digital infrastructure, and related real estate. Its leadership team brings extensive experience across private equity, private credit, and publicly listed investment vehicles.

About SGI Real Estate Canada

Founded in 1962, SGI Real Estate Canada is a real estate investor, owner, operator, and developer active across multiple sectors. The company primarily focuses on large-scale real estate assets in Canada and the United States (through both private and public investment vehicles), and has also executed investments in Europe and the Arab world.