Adeer Real Estate, a leading real estate services company in Saudi Arabia, announced the signing of a strategic brokerage agreement with Saudi Economic and Development Securities Company (SEDCO Capital), a specialist in Sharia-compliant asset management. The agreement, valued at SAR 23,019,600, aims to facilitate the acquisition of a prime piece of land in Riyadh for one of the real estate funds managed by SEDCO Capital.
According to the official disclosure published by Adeer Real Estate on the Saudi Stock Exchange (Tadawul), the contract was signed on February 5th. Under the agreement, Adeer will act as the intermediary for the acquisition of a plot of land with a total area of 115,097.89 square meters. Adeer Real Estate will receive its commission in the form of in-kind units in the real estate fund acquiring the land, at the unit's base price. The contract is valid for 90 days from the date of signing, and the positive financial impact of this transaction is expected to be reflected in the company's name starting from the date the in-kind units are registered in its name.
General context: Growing momentum in the Saudi real estate market
This deal comes at a time when the Saudi real estate sector is experiencing remarkable growth and unprecedented investment momentum, driven by the goals of Vision 2030, which aims to diversify the national economy and reduce dependence on oil. Riyadh, in particular, is a major hub for this activity, hosting numerous mega-projects and government initiatives designed to improve quality of life and establish it as one of the world's largest urban economies, thus increasing the attractiveness of its land and real estate to both local and international investors.
The importance of the deal and its expected impact
This partnership between Adeer Real Estate and SEDCO Capital reflects strong confidence in the future of Riyadh's real estate market. The acquisition of such a large plot of land by an investment fund managed by a reputable company like SEDCO Capital indicates ambitious development plans that could include residential, commercial, or mixed-use projects. These projects will contribute to meeting the growing demand in the capital, creating new job opportunities, and enhancing urban infrastructure.
Domestically, the deal highlights the growing role of real estate investment funds as an effective tool for mobilizing capital and directing it towards large-scale development projects. Regionally, such transactions reinforce the Kingdom's position as a leading investment destination in the region and underscore the maturity and transparency of its financial and real estate market. Furthermore, Adeer Real Estate's choice of an in-kind commission rather than a cash one reflects its firm belief in the future value of the project, transforming it from a mere intermediary into a strategic partner in its success.
