Mulkia Al Anwar Real Estate Fund begins operations with SAR 650M investments

07/11/2024 Argaam
Logo ofMulkia Investment Co.

Logo of Mulkia Investment Co.

Mulkia Investment Co. announced that Mulkia Al Anwar Real Estate Fund, a private closed real estate fund with a total investment size of nearly SAR 650 million, launched operations.

Mulkia Al Anwar aims to own undeveloped land of around 2.6 million square meters in the north of Buraydah city, the company said in a statement to Tadawul.

 

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The fund aims to develop the land infrastructure, divide and sell it as developed plots with the possibility of partial or whole development of the land superstructure.

 

The memorandum of understanding signed by the company and the property owners was terminated. Both parts agreed to launch the fund.

 

Mulkia Investment expects revenue to rise by more than 5% compared to total topline as per the latest audited annual financial statements.  

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