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Alramz will earn 10% development fees and marketing fees of 2.5% of total project sales
Alramz Real Estate Co. signed today, Dec. 29, an agreement to establish a Shariah-compliant real estate investment fund with SNB Capital (fund manager) and AWJ Real Estate Co. (landowner), dedicated to the development of the former’s latest residential project in Riyadh, Rabwa Alramz.
The project, located in the capital city’s Al-Safa District, spans a total area of 219,130 square meters (sqm), Alramz disclosed in a statement on Tadawul.
The TASI-listed company said the fund's target size is SAR 2.5 billion, to which it will contribute SAR 105 million as a stakeholder. It noted that no related parties were involved in the deal.
Under the agreement, Alramz will serve as the project’s exclusive developer and marketer to deliver an integrated community, comprising around 1,317 residential units, including villas, duplexes and townhouses, to be sold to end users.
The company said its scope specifically includes development works, with the development contract and fees estimated at around SAR 1.1 billion. Alramz will earn 10% development fees and marketing fees of 2.5% of total project sales.
The project, according to Alramz, reflects its vision to deliver high-quality residential products that meet Riyadh’s real estate market needs, and is expected to strengthen its investment portfolio and support sustainable growth.
The company expects the transaction to enhance its financial performance throughout 2026, 2027, 2028, and 2029, adding that any material developments will be disclosed in due course.
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