Masar signs MoU to establish SAR 1.4B private real estate fund

01/07/2025 Argaam
Logo ofUmm Al Qura for Development and Construction Co. (Masar)

Logo of Umm Al Qura for Development and Construction Co. (Masar)

Umm Al Qura for Development and Construction Co. (Masar) signed a non-binding tripartite memorandum of understanding (MoU) with AlJazira Capital and Naif Alrajhi Investment to establish a SAR 1.4 billion real estate private fund, according to a statement to Tadawul.
 
 

The planned fund will consist of both cash and in-kind contributions.

 

The move is part of Masar’s joint development strategy, the statement said.

 

The fund aims to develop hotel, residential, and commercial units on the two land plots within the Masar destination.

 

According to the MoU, AlJazira Capital will manage the fund, while Naif Alrajhi Investment will assume the role of the developer.

 

Masar will provide land plots as an in-kind contribution, while the developer will invest in cash and in-kind into the fund.

 

The final participation percentages will be determined upon the fund’s establishment.

 

The MoU was signed on June 30, 2025, and is valid for six months from the date of signing or until the completion of the fund establishment procedures, whichever comes first. The agreement may be extended by mutual written consent.

 

The MoU will have no financial impact, the statement said, adding that there are no related parties involved.

 

Any material developments related to this matter will be disclosed in due course.

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