Al Ramz Real Estate
Al Ramz Real Estate is a Riyadh-based Saudi property developer founded in 2016 and listed on the Saudi Exchange in December 2025. It builds residential and office projects in six Saudi cities and reported 2025 revenue of SAR 1,187.8 million.
Industry: Real estate development | Location: Riyadh, Saudi Arabia | Founded: 2016 | Total Funding: SAR 864M raised in December 2025 IPO (per Saudi Exchange filing)
About Al Ramz Real Estate
Al Ramz Real Estate, also written Alramz, is a Saudi property developer headquartered in Riyadh. It began operations in 2016, converted to a closed joint-stock company in 2021, according to its website, and builds residential, commercial and service developments. The company is led by chief executive Haroon Al-Rasheed and remains controlled by the Al Rashid family. Forbes Middle East reported in 2025 that it had developed or was delivering more than 8,756 units across 61 projects in six Saudi cities, while coverage of its IPO prospectus cited more than 40 completed and under-development projects between 2022 and the first half of 2025, plus a pipeline of 17 projects, about 70 per cent of it by value in Riyadh. Al Ramz listed on the main market of the Saudi Exchange on 18 December 2025. The offering comprised 12,857,143 shares, 30 per cent of the share capital after the capital increase, priced at SAR 70, the top of a SAR 67 to 70 range. Baker McKenzie advised the company on the listing. A Saudi Exchange earnings release says the IPO raised about SAR 864 million. According to the prospectus coverage, about 37 per cent of net proceeds was earmarked for project development, 36 per cent for financing real estate funds and 23 per cent for general corporate purposes. For 2024 the company reported revenue of about SAR 951.8 million, up 78.9 per cent, and net income of SAR 158.4 million, up 25.1 per cent. It reported revenue of about SAR 863 million for the first nine months of 2025 and more than doubled net profit to roughly SAR 243 million. In its results for the first half of 2026, published on 3 August 2026, Al Ramz reported revenue of SAR 910.7 million. Fund structures are central to its model. Al Ramz signed an agreement to set up a Shariah-compliant property fund managed by Oud Capital, a Dammam-based manager in which Al Ramz holds 25 per cent. The fund has a target size of SAR 650 million, roughly USD 173 million, and will finance the Al Ramz Front residential scheme in the Al Firdous district of Jeddah: about 900 homes on a plot of around 47,800 square metres, valued at roughly SAR 215 million. Al Ramz contributes about SAR 81.6 million in kind and acts as developer and exclusive marketer under a development contract worth close to SAR 269 million. It earns a development fee of 10 per cent and a marketing fee of 2.5 per cent of total project sales, and expects the arrangement to affect its results between 2026 and 2029. A second Oud Capital-managed fund, reported by TradeArabia and others in 2026, has a target above SAR 1 billion and covers land of about 70,516 square metres with more than 800 units. Al Ramz has also agreed to buy the remaining units in a private fund that owns the Qurtuba 2 development in Riyadh for SAR 133 million. Earlier funds were arranged with Al Ahli Capital and Al Rajhi Capital, and the approach sits within Saudi Arabia's housing push under Vision 2030 and the Capital Market Authority's encouragement of closed real estate funds as an alternative to debt.
Leadership
- Rasheed Abdulrahman Al-Rasheed, Chairman of the Board
- Haroon Al-Rasheed, Chief Executive Officer
- Abdulmalik Al Rashid, Chief Financial Officer
- Faisal Al Nassar, Deputy Chairman
- Abdulaziz Al Mulhim, Board Member
- Nizar Banbeelah, Board Member
- Sultan Al Jabr, Head of Commercial Sector
- Turki Al Rifai, Head of Shared Services