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Riyad Capital and the Saudi Railway Company (SAR) Launch a Real Estate Fund in Makkah Worth Up to SAR 6 Billion
Riyadh, Kingdom of Saudi Arabia – 21 October 2025: Riyad Capital, one of the Kingdom’s largest asset managers and a leading company in real estate investment, announced that it has received an appointment letter from the Saudi Railway Company (SAR) to establish a real estate fund aimed at developing a mixed-use project based on the Transit Oriented Development (TOD) model, a global concept focused on creating integrated urban communities adjacent to public transport stations. The project will be developed on a 90,000-square-meter land plot located in the Al-Rusifah district near the Haramain High-Speed Railway Station in Makkah, with an estimated total project value of up to SAR 6 billion.
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This collaboration reflects Riyad Capital’s commitment to supporting major development projects in the holy cities and strengthening its role as a key partner in advancing the Kingdom’s real estate infrastructure, in line with the objectives of Saudi Vision 2030 to stimulate strategic investments and diversify the national economy.
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On this occasion, Abdullah Alshwer, PhD, CFA, CEO of Riyad Capital, stated:
“This project marks a strategic milestone in Riyad Capital’s efforts to strengthen its presence in the real estate development sector, particularly in cities of religious and economic significance. Our collaboration with SAR embodies a shared vision to transform the project site into a modern urban destination aligned with Makkah’s development aspirations, while providing promising investment opportunities.”
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The project is strategically located adjacent to the Haramain High-Speed Railway Station in Al-Rusifah, Makkah, and is expected to feature mixed-use components, including hotels, commercial centers, and residential facilities, enhancing the area’s position as a promising investment and development hub.
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About Riyad Capital
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Riyad Capital is a leading fully-fledged investment manager and the largest custodian in Saudi Arabia. Through its four business lines – asset and wealth management, brokerage, corporate investment banking, and securities services – the company offers end-to-end investment management solutions. Within the real estate sector, Riyad Capital is recognized as a pioneer, having launched the first listed REIT in Saudi Arabia – Riyad REIT – in 2016. The company’s real estate portfolio comprises various properties across 3 continents, with a total value exceeding c. US$ 6 billion. As of June 2025, Riyad Capital managed over c. US$ 25.8 billion in assets under management and more than c. US$ 205 billion in assets under custody. The company was recognized among the Middle East’s top 5 asset managers for 2024 and 2025 by Forbes Middle East and received the Saudi Capital Market Award for Custodian of the Year 2024.
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For media inquiries, please contact:
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Riyad Capital:
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MediaRelations@RiyadCapital.com
