Kingdom of Saudi Arabia, Khobar – The value of assets managed by “Areeb Capital” grew to SAR 19.69 billion by the end of the third quarter of 2024, a 740% increase compared to the same period of the previous year, when it amounted to approximately SAR 2.33 billion in September 2023.
“Areeb Capital” advanced to 12th place among the largest asset management companies in Saudi Arabia. It was ranked 32nd in 2023 within a list of 88 licensed companies, according to a report by the “Capital Market Authority”.
“Areeb Capital” stated that it achieved the third highest asset growth rate among asset management companies in the Kingdom despite focusing its investments on only real estate funds, adding SAR 17.35 billion to the value of its assets.
The company said it improved its rank by 20 places within one year, reflecting the strength of Areeb Capital’s growth and innovation strategies in asset management and expanding its client base. The work team’s extensive cumulative expertise contributed to this outcome, along with the executive management team, which remained unchanged for several years, ensuring the company’s stability.
It noted that this exceptional growth demonstrates its distinctive ability to attract huge investments from diverse markets, which has contributed significantly to increasing the size of assets managed. This is in light of its continuous desire to provide innovative and unconventional solutions that serve the real estate investment sector in the Kingdom.
