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 standards and guidelines of AlJazira Capital’s Shariah Committee. The announcement was made during the 2025 Financial Markets Forum held in Riyadh.

The fund targets investments exceeding one billion Saudi riyals, primarily focused on infrastructure development, according to Mr. Naif Al-Musaind, CEO and Managing Director of AlJazira Capital. He explained that this offering aligns with the company’s strategy to provide diverse investment products and services in collaboration with strategic partners such as Target Real Estate, as reported by Argaam.

For his part, Mr. Bandar Al-Huqail, Head of Real Estate Assets at AlJazira Capital, stated that the fund aims to develop raw land located in the Al-Narjis district in northern Riyadh, by establishing integrated infrastructure that enhances urban planning and service quality.

In the same context, Mr. Fahad Al-Bulaid, General Manager of Target Real Estate, pointed out that the launch of the fund comes as part of the company’s plan to develop high-quality masterplans that meet the growing demand for real estate units in Riyadh and contribute to strengthening Target’s portfolio of projects focused on quality of life and integrated residential environments.