Al-Saedan Launches $400m Platform for Saudi Real Estate

• Initial investment of SR1.5 billion ($400 million) planned across 6–8 projects

• Focus on Riyadh and Jeddah for mixed-use, residential, hospitality, and data center developments

• Platform formed with partners from the UK and Canada to attract global capital

Riyadh: Saudi Arabia’s real estate and digital infrastructure sectors are set for a major boost with the launch of a new joint development and investment platform backed by Al-Saedan Real Estate Company, Serpentine Lake Capital (UK), and SGI Real Estate (Canada).

The newly formed platform, named SL Property, aims to invest approximately SR1.5 billion ($400 million) in its first phase, targeting six to eight projects spanning commercial, residential, hospitality, infrastructure, and data center developments across the Kingdom.

Initial investments will primarily focus on Riyadh and Jeddah, with projects ranging from mixed-use developments and housing to commercial assets and data center-related infrastructure. According to the partners, these developments are designed to be scalable and sustainable, while supporting national priorities such as housing expansion, urban livability, hospitality growth, and strengthening Saudi Arabia’s digital ecosystem.

The agreement was formally signed during the Future of Real Estate Forum, held under the patronage of Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Real Estate General Authority. Al-Saedan participated in the forum as a strategic sponsor, underlining the importance of the initiative.

Senior representatives from all partner organisations attended the signing ceremony, including Dr. Badr bin Ibrahim bin Saedan, Chairman of Al-Saedan Real Estate; Ahmed bin Ibrahim bin Saedan, Vice Chairman; Ben Mikola of Serpentine Lake Capital and SL Property; and Hassan Al-Shawwa of SGI Canada. Their presence highlighted the strategic importance of the platform and the growing international interest in Saudi Arabia’s real estate and digital infrastructure markets.

The launch comes shortly after Saudi Arabia introduced updated regulations allowing non-Saudis to own real estate, which took effect in January. The revised framework is expected to accelerate foreign participation, deepen institutional investment, and unlock capital flows into strategic sectors such as property development, infrastructure, and data centers.

SL Property will operate as a dedicated investment vehicle, combining Al-Saedan’s local development expertise with Serpentine Lake Capital’s asset management capabilities and SGI Real Estate’s sector-specific experience. The platform is structured to follow international governance standards while leveraging on-ground execution strengths within the Kingdom.

Al-Saedan Real Estate, one of Saudi Arabia’s oldest private developers, brings over 80 years of experience to the partnership, with a portfolio that includes seven integrated urban communities along with multiple commercial and hospitality projects.

Commenting on the development, Dr. Badr bin Ibrahim said Al-Saedan is pleased to be among the early beneficiaries of Saudi Arabia’s new foreign investment framework, adding that the company looks forward to expanding its partnerships globally after successfully raising several local investment funds.

Ben Mikola of Serpentine Lake Capital said the Kingdom represents a fast-growing market supported by strong structural drivers. He added that the partnership with Al-Saedan provides a solid foundation for building high-potential real estate and infrastructure assets, with possible expansion beyond Saudi Arabia in the future.

As SL Property rolls out its first phase of investments, the platform is expected to offer both local and international investors access to long-term, high-quality opportunities, reinforcing Saudi Arabia’s position as a rising hub for real estate development and digital infrastructure.