Dallah launches the Palm Oasis Fund to develop a major mixed-use complex on Riyadh’s King Fahd Road, with Tatweer appointed to lead the SAR 741 mln development works
Dallah Healthcare Co. announced the launch of Wahet Al-Nakheel Fund, a real estate investment fund exceeding SAR 1.2 billion in volume. The fund aims to develop a mixed-use project on King Fahd Road in Riyadh, featuring medical, commercial, office and hotel facilities built to the highest standards. 
The company said in a statement on Tadawul that the fund appointed Tatweer as the project’s real estate developer and signed a SAR 741 million agreement with the company to oversee design, excavation, execution, an
It stated that a board of directors has been formed for the fund, which will oversee the implementation of the project, including monitoring d the required approvals.
The 51-month project covers design, excavation, construction works, and securing all necessary approvals.
Dallah noted that the fund’s ownership is shared among Dallah Healthcare, Dallah Real Estate Co., and Tatweer under a strategic partnership among the three parties, while Aljazira Capital will serve as the fund manager.
The company added that the financial impact cannot be determined at this stage or the period in which it may materialize until the project is completed. It will disclose any material developments in due course.
A board of directors has been formed for the fund as it will be responsible for overseeing the project implementation, including development work and the necessary facilities to finance the project.
Related parties include: Tarek Othman AlKasabi, Chairman of Dallah Healthcare and Chairman of Aljazira Capital; Mohiuddin Saleh Kamel, partner and board member at Dallah Real Estate, board member at Dallah Albaraka Holding (a major shareholder) and Vice Chairman of Dallah Healthcare; Abdullah Saleh Kamel, partner and board member at Dallah Real Estate and Chairman of Dallah Albaraka; Hadeel Saleh Kamel, partner and board member at Dallah Real Estate and board member at Dallah Albaraka; Saleh Abdullah Kamel, board member at Dallah Real Estate and senior executive at Dallah Albaraka; and Abdulaziz Mohamed Abdu Yamani, senior executive and board member at Dallah Real Estate, and senior executive and board member at Dallah Albaraka.
According to Argaam data, Dallah Healthcare signed a non-binding memorandum of understanding (MoU) in July 2024 with Aljazira Capital, Dallah Real Estate Co. and Tatweer to establish a private real estate fund with an estimated value exceeding SAR 1.2 billion.
Dallah launches the Palm Oasis Fund to develop a major mixed-use complex on Riyadh’s King Fahd Road, with Tatweer appointed to lead the SAR 741 mln development works
Dallah Healthcare Co. announced the launch of Wahet Al-Nakheel Fund, a real estate investment fund exceeding SAR 1.2 billion in volume. The fund aims to develop a mixed-use project on King Fahd Road in Riyadh, featuring medical, commercial, office and hotel facilities built to the highest standards.
The company said in a statement on Tadawul that the fund appointed Tatweer as the project’s real estate developer and signed a SAR 741 million agreement with the company to oversee design, excavation, execution, an
It stated that a board of directors has been formed for the fund, which will oversee the implementation of the project, including monitoring d the required approvals.
The 51-month project covers design, excavation, construction works, and securing all necessary approvals.
Dallah noted that the fund’s ownership is shared among Dallah Healthcare, Dallah Real Estate Co., and Tatweer under a strategic partnership among the three parties, while Aljazira Capital will serve as the fund manager.
The company added that the financial impact cannot be determined at this stage or the period in which it may materialize until the project is completed. It will disclose any material developments in due course.
A board of directors has been formed for the fund as it will be responsible for overseeing the project implementation, including development work and the necessary facilities to finance the project.
Related parties include: Tarek Othman AlKasabi, Chairman of Dallah Healthcare and Chairman of Aljazira Capital; Mohiuddin Saleh Kamel, partner and board member at Dallah Real Estate, board member at Dallah Albaraka Holding (a major shareholder) and Vice Chairman of Dallah Healthcare; Abdullah Saleh Kamel, partner and board member at Dallah Real Estate and Chairman of Dallah Albaraka; Hadeel Saleh Kamel, partner and board member at Dallah Real Estate and board member at Dallah Albaraka; Saleh Abdullah Kamel, board member at Dallah Real Estate and senior executive at Dallah Albaraka; and Abdulaziz Mohamed Abdu Yamani, senior executive and board member at Dallah Real Estate, and senior executive and board member at Dallah Albaraka.
According to Argaam data, Dallah Healthcare signed a non-binding memorandum of understanding (MoU) in July 2024 with Aljazira Capital, Dallah Real Estate Co. and Tatweer to establish a private real estate fund with an estimated value exceeding SAR 1.2 billion.
