Naif Alrajhi Investment has formed a strategic partnership with Aljazira Capital to launch a closed private real estate investment fund. Valued at SR1.7 billion ($453.2 million), the fund will focus on the development of two high-impact real estate projects in Riyadh and Jeddah.

This partnership underscores the shared investment vision of both companies in the Saudi real estate market and their shared ambition to enhance its appeal by developing innovative, high-value projects. The fund will support the execution of two strategic developments in two of the Kingdom’s most prominent and dynamic cities.

In Riyadh, the fund will support the development of a luxury residential project in Al-Khuzama district, designed to offer a fully integrated residential environment. The project will feature a diverse range of private residences, premium services, and architectural designs aligned with Saudi Arabia’s modern vision. Strategically located near key landmarks in the capital, the project offers strong investment value and serves as an ideal choice for those seeking exceptional living in one of Riyadh’s most prestigious neighborhoods.

In Jeddah, the fund will support a mixed-use development in North Jeddah along King Abdulaziz Road. The project will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations. Designed to meet the growing demand for integrated, lifestyle-centric developments, the project combines living, working, and leisure in one strategic location. Its architectural design reflects Saudi Arabia’s vision to preserve and modernize the Kingdom’s identity, contributing to the evolving urban landscape of Jeddah in a contemporary and forward-looking way.

Naif Saleh Alrajhi, chairman and CEO of Naif Alrajhi Investment, said: “We are proud to partner with Aljazira Capital in developing two high-impact projects. Strategic locations were carefully selected, and the real estate offerings were designed based on thorough market research and trends, while ensuring alignment with the urban code and architectural identity of each region.” He added: “This collaboration reflects our ongoing commitment to developing distinctive real estate projects that enhance quality of life.”

Naif Al-Mesned, CEO and managing director of Aljazira Capital, said: “At Aljazira Capital, we remain dedicated to offering high-quality investment opportunities that align with our clients’ aspirations and respond to evolving market demands. The launch of this fund, in partnership with Naif Alrajhi Investment as a specialized real estate developer, reflects our strategy to diversify our investment offerings and reinforce our active presence in the real estate sector.”

Bandar Al-Hogail, head of real estate assets at Aljazira Capital, added: “The launch of this fund marks an important milestone in Aljazira Capital’s strategy to offer a diversified portfolio of high-quality real estate investment products.” He added: “Partnering with experienced industry specialists such as Naif Alrajhi Investment — the developer behind the fund’s projects — is a key factor in ensuring project success and achieving targeted returns.”

Naif Alrajhi Investment is one of the Kingdom’s leading investment groups, managing a diversified portfolio with a strong focus on the real estate sector. With a proven track record of success both locally and internationally, the company brings deep expertise and a strategic vision to developing real estate assets that meet the highest standards.

MOSCOW: The Kremlin expects Russia and Ukraine to discuss the list of conditions for a ceasefire in the war in Ukraine next week in Istanbul, its spokesman said on Friday, praising the US role in mediating the talks.
Russia has proposed holding the second round of talks with Ukraine in Istanbul on June 2. However, Ukraine wants to see Russia’s proposals for a peace deal before it sends a delegation to Turkiye, Foreign Minister Andrii Sybiha said on Friday.
Kremlin spokesman Dmitry Peskov said the Russian delegation would be traveling to Istanbul and would be ready for talks with Ukraine on Monday morning.
“At the moment, everyone is focused on the direct Russia-Ukraine negotiations. A list of conditions for a temporary truce is being developed,” Peskov told reporters. He said the details of the memorandum will not be published.
Reuters reported earlier this week that Putin’s conditions for ending the war in Ukraine include a demand that Western leaders pledge in writing to stop enlarging NATO eastwards.
US President Donald Trump’s envoy to Ukraine, Keith Kellogg, said earlier on Friday that Russia’s concern over the eastward enlargement of NATO was fair and the United States did not want to see Ukraine in the US-led military alliance.
Commenting on Kellogg’s statement, Peskov said that Putin has been consistently conveying Russia’s position on the inadmissibility of NATO’s eastward expansion.
“We are pleased that these explanations by the president are understood, including in Washington. And, of course, this is quite appealing to us in terms of the mediating role that Washington continues to play,” Peskov said.
Russia launched its full-scale invasion of Ukraine in February 2022 after eight years of fighting in eastern Ukraine between Russian-backed separatists and Ukrainian troops.