Target Real Estate has announced the launch and operation of the “AlJazira Target AlSharq Real Estate Fund”, in collaboration with AlJazira Capital, which successfully managed the offering. The fund is a closed-end private real estate investment fund that complies with the Shariah standards and guidelines of AlJazira Capital’s Shariah Committee.

Mr. Fahad Al-Bulaid, General Manager of Target Real Estate, stated that the fund’s launch aligns with Target’s strategy to develop high-quality masterplans that meet the growing demand in Riyadh, enhance quality of life, and expand the company’s real estate portfolio.

Meanwhile, Mr. Naif Al-Musaind, CEO and Managing Director of AlJazira Capital, noted that the fund’s targeted investment size is SAR 660 million, and its investments will focus on infrastructure development in eastern Riyadh, in line with the city’s urban development plans.

Mr. Bandar Al-Huqail, Head of Real Estate Assets at AlJazira Capital, explained that the fund aims to generate capital growth by acquiring and developing raw land through the provision of integrated infrastructure and high-quality services that meet luxury standards.

It is worth noting that AlJazira Capital is licensed by the Capital Market Authority (License No. 37-07076) to carry out all securities business.