ASAS Makeen Real Estate Development Co. has signed a final agreement with Abdulaziz & Saad Al Moajil Trade & Investment Company and Dinar Investment Company to establish a 140 million Saudi riyal ($37.33 million) private and closed real estate investment fund.

The fund aims to develop quality residential and commercial units, the developer said in a statement to the Saudi stock exchange.

Dinar Investment will be the licensed fund manager after obtaining the Capital Market Authority’s approval.

No details were given on the proposed development plans.

In July 2025, the developer signed a memorandum of understanding with Abdulaziz & Saad Al Moajil to support its growth plans and diversify its real estate projects.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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