Arabian Dyar and Al Rajhi Capital launched a 4.5 billion riyal (≈$1.2 billion) real estate fund to develop new projects in Mecca and Madinah. The fund targets construction of thousands of properties in the two holy cities, signaling sizable capital deployment into Saudi religious-tourism real estate and potential upside for local developers, asset managers and related services.
Arabian Dyar and Al Rajhi Capital launched a 4.5 billion riyal (≈$1.2 billion) real estate fund to develop new projects in Mecca and Madinah. The fund targets construction of thousands of properties in the two holy cities, signaling sizable capital deployment into Saudi religious-tourism real estate and potential upside for local developers, asset managers and related services.
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moderately positive
Sentiment Score
0.50
