RIYADH, Kingdom of Saudi Arabia: Riyad Capital, the leading Saudi IB Advisor and a leading asset manager within Saudi Arabia and the GCC region, today announced the successful issuance of a SAR 500 million Saudi Riyal denominated sukuk for Sumou Global Investment Company (“Sumou”) a first of its kind for the Saudi Real Estate sector.
Sumou priced SAR 500 million in senior secured Sukuk with a 3-year maturity and a coupon of 8.50% payable on a quarterly basis. This landmark transaction marks the company’s debut into the debt capital markets, a strategic move towards diversifying its funding sources and securing capital for long-term growth.
The transaction was notably upsized from an initial issue size of SAR 300 million due to significant demand, with initial subscription multiples of almost two times the offer size from both retail and institutional investors. This robust demand represents a clear endorsement of Sumou’s credit story and future prospects by the investor community.
Riyad Capital acted as the Sole Arranger and Sole Bookrunner to the offering.
Abdullah Alshwer, PhD, CFA, CEO of Riyad Capital said: “We are proud to have advised Sumou Global Investment Company on this transformative capital markets issuance. This level of demand highlights a strong investor appetite for a compelling investment opportunity and interest in Saudi Arabia’s growing real estate sector, which remains central to the Kingdom’s economic diversification and long-term development plans under Vision 2030. This successful issuance is testament to Riyad Capital’s deep expertise in structuring and delivering market-leading transactions that support our clients’ strategic financing goals with precision and impact.”
Abdullah Al-Medmeigh, Managing Director, Corporate Investment Banking, at Riyad Capital noted: “The exceptional upsizing by over 65% to SAR 500 million is a direct result of Sumou’s compelling credit story and a meticulously prepared investor outreach strategy. We are pleased to continue being the partner of choice for shareholders seeking strategic opportunities for value creation.”
“This inaugural Sukuk issuance is a testament to SGI’s resilience, strategic foresight, and unwavering commitment to excellence,” said Mr. Abdulrahman Al Qahtani, Chief Executive Officer of Sumou Global Investment. “The Sukuk issuance aligns with SGI’s long-term vision to diversify its funding sources and support ambitious growth initiatives. As a wholly-owned subsidiary of Sumou Holding Company. We are deeply grateful for Riyad Capital’s exceptional expertise and support, which have enabled us to navigate this complex process with confidence. The success of this transaction not only secures vital capital for our growth initiatives but also establishes a benchmark for future Sukuk issuances in the sector. This achievement reflects the market’s unwavering confidence in our vision to deliver innovative, community-centric real estate solutions that align with the Kingdom’s aspirations.”
The offering was conducted as a private placement under the Rules of Offers of Securities and Continuing Obligations of the Capital Market Authority.
As of August 2025, Riyad Capital is the top two arranger for Saudi Riyal denominated Sukuk issuances in the Kingdom. The firm’s debt capital market team provides structured finance advisory solutions for complex and unique financial requirements, including securitization of receivables and financing funds.
About Riyad Capital
Riyad Capital is a leading fully-fledged investment manager and the largest custodian in Saudi Arabia. Through its four business lines – asset and wealth management, brokerage, corporate investment banking, and securities services – the company offers end-to-end investment management solutions. Within the Investment Banking sector, Riyad Capital is recognized as a market leader, having advised on some of Saudi Arabia’s most significant equity capital market transactions. In 2024 alone, the firm executed five high profile ECM deals totaling US$1.74 billion, capturing the highest market share in the Kingdom at 9.90%. Riyad Capital’s transaction experience spans IPOs, rights issues, secondary offerings, and complex restructurings, including the Kingdom’s first ever distribution in kind transaction for Savola Group. As of March 2025, Riyad Capital managed over c. US$ 26.6 billion in assets under management and more than c. US$ 218 billion in assets under custody. The company was recognized among the Middle East’s top 5 asset managers for 2024 and 2025 by Forbes Middle East and received the Saudi Capital Market Award for Custodian of the Year 2024.
About Sumou Global Investment Company
Sumou Global Investment Company (formerly known as Adeer Holding Company) was incorporated on 31 March 2022 and is one of the leading real estate holding companies in the Kingdom. It is a wholly-owned subsidiary of Sumou Holding Company, a reputable real estate group. Sumou Group is listed as one of the top Arab Family Business by Forbes Magazine. The Company and its subsidiaries primarily focus on various areas of real estate development including land development, infrastructure projects, built to suit projects, mixed use development, hospitality and BOT projects.
Media Contact
MediaRelations@RiyadCapital.com
