FIM Partners, HIVE, and Rafal Real Estate Development Company to establish $150mn development fund ...United Arab Emirates

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FIM Partners, HIVE, and Rafal Real Estate Development Company to establish $150mn development fund
HIVE, Rafal Real Estate Development Company and FIM Partners announced their intent to establish a fund of US $150mn. The fund will be managed by FIM Partners, which will support the development of six to eight new co-living projects in Riyadh, aimed at meeting the rising demand for modern, adaptable living and working spaces. The announcement was made at Cityscape Global Riyadh. The partnership marks an important milestone in Saudi Arabia’s real estate market evolution under Vision 2030. By focusing on innovative co-living developments, it offers investors a valuable entry point into an underserved, high-growth sector while addressing the Kingdom’s growing demand for flexible and affordable

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