Riyad Capital Launches $453M Fund for Major Riyadh Housing Project

Riyad Capital, one of the kingdom’s largest asset managers and a leading company in real estate investment, has announced the launch of a new residential development fund valued at SAR1.7 billion ($453 million), in partnership with Mountain View KSA.residential development fund valued at SAR1.7 billion ($453 million), in partnership with Mountain View KSA.

It is aimed at developing the ONE Mountain View, a semi-gated residential community in Al Rimal District", said the company in a statement.

Spanning a 152,000 sq m area, the prime project features over 500 residential units, providing a modern residential environment that meets the growing demand for family-oriented housing in Riyadh. 

It includes expansive green spaces and landscaped areas that enhance quality of life, along with a community centre, The Lighthouse, fostering the creation of a cohesive and integrated residential community.

Speaking at the launch, Hesham Alzaid, the Managing Director of Real Estate at Riyad Capital, said: "This fund represents an important addition to Riyad Capital’s expanding real estate development portfolio and reflects our continued commitment to supporting high quality residential projects that meet the needs of families in Riyadh."

"One by Mountain View project incorporates thoughtful planning, generous green spaces, and modern residential layouts in a strategic location,"stated Alzaid. 

This project also reflects the diversity of Riyad Capital’s real estate portfolio, which includes commercial, residential, and mixed-use assets, strengthening our presence across key development sectors and creating attractive investment opportunities, he added.

Ahmed Rashed, CEO of Mountain View KSA, said: "This project embodies our vision of offering modern residential communities that focus on quality of life and are built on more than twenty years of experience in developing communities based on the concepts of happiness and innovation."

"Through this partnership, we reaffirm our commitment to providing real added value to the city of Riyadh, and to building integrated residential environments that meet the aspirations of families and keep pace with the rapid urban growth the Kingdom is witnessing," he stated.

The launch of this fund underscores Riyad Capital’s commitment to diversifying its real estate investments and supporting projects that deliver sustainable value for residents and investors, contributing to balanced and long-term urban development in Riyadh, he added.

Source: Trade Arabia