Target Real Estate, in partnership with AlJazira Capital, announced the launch and operation of the “AlJazira Target Al-Narjis Real Estate Fund,” a closed-end private real estate investment fund compliant with the Shariah standards and guidelines of AlJazira Capital’s Shariah Committee. The announcement was made during the 2025 Financial Markets Forum held in Riyadh.

Mr. Naif Al-Musaind, CEO and Managing Director of AlJazira Capital, stated that the targeted investment size of the fund exceeds one billion Saudi riyals, noting that the fund’s investments will primarily focus on infrastructure development.

He added that this launch aligns with AlJazira Capital’s strategy to offer a diversified range of investment products and services in collaboration with strategic partners like Target Real Estate.

Mr. Bandar Al-Huqail, Head of Real Estate Assets at AlJazira Capital, explained that the fund aims to develop raw land located in the Al-Narjis district in the north of Riyadh, by implementing a fully integrated infrastructure project built to modern standards and high quality.

Mr. Fahad Al-Bulaid, General Manager of Target Real Estate, confirmed that the fund’s launch is part of the company’s vision to develop distinctive projects that respond to the rapidly growing demand for real estate in Riyadh, while also enhancing Target’s portfolio with developments characterized by high quality of life and sustainable urban planning.