Riyadh, Saudi Arabia – Thimarah Real Estate Company (“Thimarah”) announced today the signing of a strategic partnership agreement with Qimam Financial to establish a new real estate fund dedicated to developing 226 modern residential units in Riyadh. The announcement was made during Thimarah’s participation in the global Cityscape exhibition in Riyadh, marking one of the most prominent specialized projects to enter the capital’s real estate market.

The fund’s allocated investment size exceeds SAR 180 million (approximately $48 million USD). This capital will be directed towards developing a new residential project spanning 20,538 square meters in a key district of Riyadh. The development will adhere to modern urban planning standards focused on enhancing the quality of life and meeting the needs of Saudi families.

Thimarah Real Estate confirmed that the agreement reflects its commitment to activating quality partnerships that align with the objectives of the real estate sector and underscore the role of national investors in driving urban development. The new project represents a significant addition to the housing landscape in the capital, thereby boosting the sector’s appeal to both local and international investors.

Officials from Thimarah explained that the selection of the site and the commencement of the design phases are critical foundational steps to ensure a viable investment project. They noted that the project is timely, coinciding with the rapid growth of Riyadh’s urban landscape and offering investors promising, well-studied real estate opportunities.

The company added that the new fund aligns with the Kingdom’s direction to create broader horizons for real estate investment through a balanced and stimulating environment. This is consistent with the objectives of Saudi Vision 2030, which aims to provide diverse housing options and develop integrated urban communities.

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