Areeb Capital acquires a 32 million square meter plot of land in the heart of Dammam
Areeb Capital, a leading firm specializing in structuring and managing investment funds, has achieved a significant milestone by arranging the largest real estate investment fund in Saudi Arabia, valued at SAR 15 billion (USD 4 billion). This success follows acquiring a 32 million square meter plot of land in the heart of Dammam, one of the country’s most strategically important areas, specifically in Al-Naseem District along King Faisal Coastal Road.
Areeb Capital plans to transform this exceptional site into a mixed-use development offering a range of commercial and investment opportunities in line with Saudi Arabia’s Vision 2030 goals. The upcoming project will feature residential, commercial, and entertainment facilities, making it a dynamic hub for local and international investments.
The deal was financed through partnerships with a group of prominent investors. With this project, the company expects to play a pivotal role in boosting the Eastern Province’s property market and opening up new investment opportunities.