Mnzil, TDG, and Capital Partners Launch SAR 1 Billion Real Estate Fund

Mnzil, The Development Group (TDG), and Capital Partners have announced the launch of a real estate fund valued at SAR 1 billion to develop workforce housing in Saudi Arabia. The initiative aims to construct up to 50,000 purpose-built beds across the Kingdom, targeting major economic centers such as Riyadh, Jeddah, Dammam, Khobar, Makkah, and Madinah. Development is expected to commence in Q4 2026. Mnzil will act as the strategic partner and exclusive operator, while TDG will oversee site selection, design, and property development. Capital Partners will manage the fund. The fund seeks to improve the quality of workforce housing by aligning accommodation directly with employer demand, thereby enhancing workers' living conditions. Mnzil, a leading workforce services provider, currently accommodates over 30,000 workers for more than 250 corporate clients in Saudi Arabia. The company is backed by the US-based Founders Fund. The compounds will feature furnished rooms, recreational facilities, and on-site services to meet workers' everyday needs. This initiative aligns with Saudi Arabia's Vision 2030, which emphasizes economic diversification and growth in labor-intensive sectors.