ZAWYA: Saudi’s Al Ramz, Oud Capital to launch $173mln fund
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Saudi Arabia’s Al Ramz Real Estate and Oud Capital are launching a fund to raise SAR 650 million ($173.3 million) for a residential development in Jeddah. The Shariah-compliant fund will finance the construction of Al Ramz Front, an integrated community featuring 900 homes over 47,794 square meters. Oud Capital will manage the fund, while Al Ramz will act as the developer and exclusive marketer, investing approximately SAR 81.6 million as the landowner.
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