Alramz Acquires 77% of Al Ahli Aleen Enbar Fund

Alramz Real Estate Co. has agreed to acquire the remaining 77% stake in the Al Ahli Aleen Enbar Real Estate Fund for SAR 133 million, a move that will see the company consolidate its ownership of the fund. The fund owns the "Qurtuba 2" project, a prominent mixed-use development situated on approximately 130,390 square meters in Riyadh. Prior to this agreement, Alramz held a 23% interest in the fund, which was valued at SAR 40 million. This acquisition positions Alramz as the sole owner of the fund.

The Qurtuba 2 project is strategically located on Prince Mohammed Bin Salman Road in the Qurtuba district, encompassing around 1,800 residential units and 250 commercial and office units. This area is characterized by high demand and limited supply, enhancing the project's potential appeal and profitability. The acquisition aligns with Alramz's strategy to deepen its investments in strategic real estate projects that offer robust returns. The company also plans to manage the development, marketing, and operations for the project, with further details on associated contracts to be disclosed at a later stage.

By fully acquiring the Al Ahli Aleen Enbar Real Estate Fund, Alramz aims to boost its long-term investment returns through the development of high-quality real estate in Riyadh. The project’s location within a desirable market underscores its strategic significance for the company. This acquisition also denotes Alramz's commitment to bolstering its portfolio in response to the increasing demand for mixed-use properties in one of the Middle East's key real estate markets.

The market implications of this acquisition are notable, as it highlights a growing trend among real estate firms to consolidate ownership of high-potential projects in economically vibrant regions. Competitors may feel pressure to pursue similar deals to gain the strategic advantage that full control over valuable assets can offer. Alramz's move could suggest a broader market shift towards further capital allocation in mixed-use developments within high-demand urban areas.

Completion of the acquisition remains contingent upon fulfilling regulatory and contractual stipulations, alongside the agreed payment terms. Alramz has promised to keep stakeholders informed of material developments as they arise, ensuring transparency in the process. The company anticipates enhanced financial outcomes from this investment between 2026 and 2031, marking an important phase in its expansion strategy within the Saudi real estate sector.