SAUDI ARABIA: Alramz, a real estate company, has signed an agreement with asset manager SNB Capital and property developer Assayel Arabia to establish Alahli Alramz Assayel Residential Fund, a Shariah compliant real estate investment fund targeting SAR370 million (US$98.66 million) for the development of the Ramz Al-Raed 2 project in the Al Raed district of Riyadh.
The fund will be equally owned by Alramz and Assayel Arabia, while SNB Capital will act as the fund manager.
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