Latest news with #SaudiFund
Zawya
2 days ago
- Business
- Zawya
JLL completes landmark sale of 520-unit Saudi residential compound
JLL Capital Markets, a global provider of capital solutions for real estate investors, said it had advised a prominent Saudi Arabia-based fund on the sale of Antara Residential Compound, a premier expatriate-focused residential development in Diriyah, North Riyadh. Announcing the landmark sale, JLL said the completion of this transaction marks one of the most significant residential real estate deals in Riyadh this year, reflecting its in-depth local market knowledge and its unparalleled expertise in facilitating complex transactions in the kingdom's dynamic market landscape. As the exclusive sell-side advisor, JLL executed a targeted institutional marketing campaign that showcased this unique, sizeable investment opportunity to acquire a best-in-class residential compound. This generated substantial interest from numerous pre-qualified bidders through a highly competitive sales process, it stated. Such robust demand reflects the client's development expertise and underscores the asset's strategic value in Riyadh's residential market, which faces a significant shortage of similar quality living options, it added. Designed as a Mediterranean-inspired resort with exceptional facilities and high-quality amenities, Antara Residential Compound offers 520 units comprising apartments, townhouses, and villas. This highly sought-after residential compound provides a range of in-house amenities, including F&B offerings, sports facilities, lush green spaces, and an extensive events calendar, said a top official. "We are delighted to have successfully supported our client on this strategic transaction, which generated strong market interest and testifies to our client's outstanding asset management capability," remarked Fadi Moussalli, the Senior Director for Capital markets Mena at JLL. "Leveraging our deep expertise and local market knowledge, we connected prominent investors, underscoring JLL's ability to orchestrate competitive sales processes in Saudi Arabia's rapidly expanding residential market," he noted. The professionalism and integrity of the purchaser were instrumental in ensuring the smooth execution of this transaction and it was a pleasure to collaborate with our client's legal counsel, Hourani & Partners, on this market-shaping acquisition, he added. Saud Alsulaimani, Country Lead and Head of Capital Markets for Saudi Arabia at JLL, said: "This transaction highlights the ongoing demand for quality, income-generating assets and the strength and resilience of Saudi Arabia's premium residential market." "The trend towards prioritizing quality and the limited availability of prime assets are driving robust demand. The Kingdom's Vision 2030 agenda has fostered an attractive long-term investment landscape, increasing interest in high-quality properties like the Antara Residential Compound. This successful transaction further reinforces JLL's position as a trusted advisor and partner in the Saudi real estate market," he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arab News
28-06-2025
- Business
- Arab News
$38m Saudi loan to boost Tunisia's southern regions
Riyadh: Saudi Fund for Development CEO Sultan Al-Marshad signed a new development loan agreement with Tunisian Minister of Economy and Planning Samir Abdelhafidh to finance the Oasis Hub Project in southern Tunisia. The loan, exceeding $38 million, was signed in the presence of Saudi Ambassador to Tunisia Abdulaziz Al-Saqr. The agreement reflects a strong development partnership spanning nearly 50 years, the Saudi Press Agency reported. The Oasis Hub Project aims to support sustainable rural development by reclaiming more than 1,000 hectares of agricultural land across various Tunisian regions. It includes drilling and equipping 22 wells, expanding rural villages and infrastructure, and building more than 285 housing units for local residents. The agreement is part of the Saudi fund's ongoing efforts to promote sustainable development in Tunisia by financing infrastructure that improves living standards, creates jobs, and supports the Sustainable Development Goals. The project will enhance regional infrastructure through the construction of roads, pipelines, and water networks for drinking and irrigation. It will also support educational institutions, agricultural facilities, and cultural, social, and commercial centers. These efforts aim to improve quality of life and drive economic and social growth in Tunisia's southern governorates, the SPA reported. Since beginning operations in Tunisia in 1975, the Saudi fund has financed 32 development projects and programs through concessional loans totaling more than $1.2 billion, along with grants exceeding $105 million. On the sidelines of the signing, Al-Marshad met with Tunisian Prime Minister Sarra Zaafrani Zenzri in Tunis, joined by Abdelhafidh, Al-Saqr, and other officials. The meeting explored ways to strengthen development cooperation and highlighted the decades-long partnership, especially in financing key projects in Tunisia. Al-Marshad also met with Tunisian Minister of Health Dr. Mustapha Ferjani to discuss ongoing health projects funded by the Saudi fund and potential support for the Tunisian health sector.
Arab News
24-06-2025
- Business
- Arab News
Saudi fund chief receives Nepal's ambassador
RIYADH: The CEO of the Saudi Fund for Development, Sultan Al-Marshad, received Nepal's ambassador to the Kingdom, Naresh Bikram Dhakal and his accompanying delegation in Riyadh on Tuesday. During the meeting, they discussed the Saudi fund's development projects in Nepal and ways to enhance cooperation between the two countries, the official account said in a post on X. Meanwhile, Saud Al-Sati, deputy minister for political affairs, met with Senegal's ambassador to the Kingdom, Biram Mbagnick Diagne, in Riyadh and wished him success in his new duties, the foreign ministry said in a post on X.
Zawya
24-06-2025
- Business
- Zawya
Jordan, Saudi Fund for Development discuss boosting cooperation
AMMAN — Minister of Public Works and Housing Maher Abul Samen on Monday met with a delegation from the Saudi Fund for Development (SFD) to discuss cooperation and accelerating the progress of joint development projects. The meeting, held at the ministry's headquarters, was attended by the ministry's Secretary General Jamal Qutaishat and representatives from the Ministry of Planning and International Cooperation, according to Al Mamlaka TV. Abul Samen expressed appreciation for the Saudi fund's continued support in financing a range of vital projects across the Kingdom, reiterating the ministry's commitment to fostering deeper collaboration with the Fund and addressing any challenges that may hinder project implementation. He also commended the SFD's contributions to school construction projects, which have significantly improved educational infrastructure and helped alleviate overcrowding in classrooms. The minister also stressed the importance of immediate communication regarding any project-related obstacles, assuring the ministry's readiness to resolve issues in coordination with relevant authorities. During the meeting, Director of the Buildings Department at the ministry Iman Obeidat presented an overview of ongoing school construction projects funded by the SFD, as well as future plans under the framework of continued Jordanian-Saudi cooperation. The discussions come as part of the ministry's broader efforts to strengthen partnerships with international donors and ensure the effective delivery of development projects in support of Jordan's sustainable growth, Al Mamlaka TV reported. The minister also emphasised the need to uphold the highest standards of transparency and to adhere strictly to agreed project timelines. He also called for enhanced coordination with all stakeholders and close monitoring of both technical and financial aspects to ensure smooth and uninterrupted progress. He also underlined the importance of timely and regular disbursement of project-related funds to avoid delays in implementation. The SFD delegation commended the ministry's efforts in managing and executing SFD-financed projects, expressing their commitment to continued coordination and cooperation in the period ahead. They reiterated the Fund's dedication to supporting projects that serve shared interests and contribute to Jordan's development objectives.
Arab News
14-05-2025
- Business
- Arab News
Saudi fund CEO attends inauguration of Jakarta State University development project
Saudi Fund for Development CEO Sultan Al-Marshad took part in an inauguration ceremony for phase two of the Jakarta State University development and upgrade project. The initiative, worth $32.7 million, includes the construction of four 10-storey buildings, along with a grand mosque and social development center. Writing on X on Wednesday, the Saudi Fund said Indonesian Minister of Higher Education, Science and Technology Brian Yuliarto and Saudi Ambassador to Indonesia Faisal bin Abdullah Al-Amoudi were also present at the ceremony.
