Capital Partners, in partnership with TDG and Mnzil, has announced the launch of a real estate fund with a target investment size of SAR 1 billion to develop purpose-built workforce housing communities across the Kingdom.

The developments will span Riyadh, Jeddah, Dammam, Al Khobar, Makkah, and Madinah, with a targeted total capacity of up to 50,000 beds.

The vision goes beyond simply providing accommodation. It focuses on enhancing the overall living experience through quality housing, well-designed amenities, green spaces, locations closer to workplaces, and services that address the day-to-day needs of residents.

The partnership brings together Capital Partners’ investment expertise, TDG’s development capabilities, and Mnzil’s technology and operational expertise, to build a new, sustainable model for workforce housing in the Kingdom.

This integrated approach aims to establish an institutional and sustainable workforce housing model based on a Built-to-Suit structure supported by long-term lease agreements, creating institutional-grade real estate assets within a promising and underserved segment of the Saudi real estate market.

We see workforce housing as an opportunity to establish a promising real estate asset class through an institutional and sustainable investment model that combines asset quality with evolving market needs, contributing to the development of the sector and supporting the Kingdom’s economic growth.

Development activities are expected to commence in Q4 2026.