05:03 AM EDT, 07/30/2026 (MT Newswires) -- Alramz Real Estate (SASE:4327) signed an agreement to create a Sharia-compliant real estate investment fund, with a target size above 3.6 billion Saudi riyals. The Saudi property group fully owns the fund's units, according to a Thursday release. It will be used to finance the development of a residential and commercial project in the Al Raed district in Riyadh, Saudi Arabia. The development contract is valued at 1.2 billion riyals, and Alramz will earn a development fee of 10% and a marketing fee of 2.5% of total sales. SNB Capital will act as the fund manager.

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