Mnzil, The Development Group (TDG) and Capital Partners have launched a real estate fund that plans to invest SAR 1 billion ($267 million) in purpose-built workforce housing across Saudi Arabia.
The fund will develop compounds capable of housing as many as 50,000 workers. Mnzil will serve as strategic partner and exclusive operator of the portfolio; TDG will lead site selection, design and development; and Capital Partners will serve as fund manager.
Development is expected to begin in fourth quarter 2026, with the fund targeting Dammam, Jeddah, Khobar, Madinah, Makkah and Riyadh. Locations will be selected near major employment centers to reduce commuting times.
The compounds are expected to include furnished rooms, recreational and sports facilities, communal areas and open spaces, as well as on-site maintenance and administration.
Mnzil currently houses more than 30,000 workers for more than 250 corporate clients across more than 30 Saudi cities. Its cu
