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IPO 1,110% Oversubscribed & Live Today: Why Institutional Investors Are Betting on Alramz (And How to Join Today)
AlRamz 0.00%
Tadawul IPO Index +0.74%
Tadawul All Shares Index +0.70%
AlRamz 4327.SA | 70.00 | 0.00% |
Tadawul IPO Index TIPOC.SA | 4437.55 | +0.74% |
Tadawul All Shares Index TASI.SA | 10699.79 | +0.70% |
Al Ramz IPO Starts
Alramz Real Estate Company has officially kicked off the retail subscription period for its Initial Public Offering (IPO) today, Sunday, December 7, 2025.
Following the institutional book-building process—which was 11.1 times oversubscribed with demand exceeding SAR 9.96 billion—the final offer price has been set at the top of the range.
If you are an individual investor looking to participate, here is the essential "need-to-know" data to help you navigate the subscription process.
Quick Snapshot: The Key Numbers
Final Offer Price: SAR 70 per share.
Implied Market Cap: SAR 3 Billion (upon listing).
Retail Allocation: Up to 20% of the total offer shares (approx. 2.57 million shares) are available for individual investors.
🗓️ Critical Timeline
Subscription Opens: Sunday, December 7, 2025 (Today).
Subscription Closes: Tuesday, December 9, 2025 (at 3:00 PM KSA time).
Subscription Limits for Individuals
Minimum: 10 shares.
Maximum: 250,000 shares.
Use of Proceeds
The company is offering 30% of its share capital to the public to fund expansion within the Saudi real estate sector. The capital raised will be deployed as follows:
37%: Developing new real estate projects.
36%: Investing in new real estate funds for project development.
23%: General corporate purposes.
4%: Covering offering expenses.
Note: Substantial shareholders are subject to a lock-up period, restricting them from selling shares for 12 months after trading begins.
Introducing the new IPO feature on Sahm platform: A step-by-step guide to subscribing to the IPO
IPO Summary
| Category | Details |
|---|---|
| Company Name | Al Ramz Real Estate Co. |
| Market | Main Market (TASI) |
| Core Activities | Construction and Real Estate Management |
| Company’s Capital Pre-Offering | SAR 300 Million |
| Company’s Capital Post-Offering | SAR 428.57 Million |
| Total Shares Pre-Offering | 30 Million |
| Total Shares Post-Offering | 42.86 Million |
| Par Value | SAR 10 per share |
| Issue Percentage | The Offer Shares represent 30% of the Company’s capital post-capital increase (which represents 43% of the Company’s capital pre-capital increase). |
| Number of Offered Shares | 12.86 Million |
| Qualified Subscribers | Participating institutions & Retail investors |
| Total Number of Shares Offered to Retail Investors | 2.57 Million shares (20% of the offering size) |
| Minimum Number of Offer Shares to be Applied for by Individual Investors | 10 shares |
| Maximum Number of Offer Shares to be Applied for by Individual Investors | 250,000 shares |
| Minimum Number of Offer Shares to be Applied for by Institutional Investors | 50,000 shares |
| Maximum Number of Offer Shares to be Applied for by Institutional Investors | 2.14 Million shares |
About Al Ramz Real Estate Company:
Established in Riyadh in 2016 and transitioning to a closed joint stock company in 2021, Alramz Real Estate Company has rapidly grown into a prominent player in the Saudi market.
Founded by shareholders with over 50 years of combined experience, the company focuses on high-demand neighborhoods in Riyadh and Al-Khobar, delivering a mix of villas, apartments, and commercial units.
- Total Portfolio Scope: Over 40 projects (completed and ongoing) comprising more than 8,000 units.
- Business Model: Flexible structures including sole ownership, co-ownership, and developer-only roles, allowing them to take on large-scale projects.
Key Investment Highlights
1. Agile & Fast Execution
Alramz distinguishes itself with speed. Their agile methodology allows them to complete residential projects within 14 to 16 months of issuing building permits (compared to longer industry standards).
- The Benefit: This speed ensures quicker capital turnover and accelerated Return on Investment (ROI) for shareholders.
2. Full Control via Vertical Integration
Alramz utilizes its fully-owned subsidiary, “ZAT Construction”, for construction management.
- The Benefit: This ensures strict control over quality, costs, and timelines, minimizing delays and budget overruns.
3. Diversified Portfolio & Geography
- Product Mix: They balance Residential (Villas, Apartments, High-rise towers) with Commercial (Office/Retail spaces like Al Ramz Tower and Faseelah Square).
- Location: Operations span multiple cities (Riyadh, Al-Khobar), protecting against regional economic fluctuations.
4. Data-Driven Development
A dedicated team conducts in-depth market analysis to design products based on actual customer needs and payment capabilities. This ensures high demand for their units before ground is even broken.
5. Tech-Enabled Efficiency
The company leverages digital transformation to enhance efficiency and sales:
- Mobile App: Handles maintenance and property monitoring for owners.
- Web Portal: Streamlines the buying process, inquiries, and transaction management.
6. Secured Future Growth (The Pipeline)
The company has a clear roadmap for revenue generation through 2029:
- Current Pipeline: 17 projects (Design/Construction stage) with 3,700+ units to be delivered by end of 2025–2029.
- Newly Secured: 4 additional projects comprising 3,000+ units slated for delivery between 2027–2029.
Information above is sourced and summarised from the company's Prospectus.
Investor Groups
The Offering is structured for two distinct investor groups:
A. Participating Parties (Institutional Investors)
Eligible Investors: Parties qualified to participate in the book-building process according to the Book-Building Instructions.
Initial Allocation:
- 12,857,143 Ordinary Shares (100% of total Offer Shares)
Allocation Flexibility:
- Can be reduced to a minimum of 10,285,714 Ordinary Shares (80% of total) if there is sufficient demand from Individual Subscribers
- The Financial Advisor, in coordination with the Company, may determine not to allocate shares to certain Participating Parties
Public Funds Sub-Category:
- Initial allocation: 3,857,143 Ordinary Shares (30% of total Offer Shares), subject to sufficient demand
- Can be reduced to a minimum of 3,085,714 Ordinary Shares (24% of total) if there is strong demand from Individual Subscribers
B. Individual Subscribers (Retail Investors)
Eligible Investors:
- Saudi Arabian nationals
- Saudi female divorcees or widows with minor children from non-Saudi marriages (can subscribe in their own name or their minor children's names, with required documentation)
- Non-Saudi nationals residing in Saudi Arabia
- GCC nationals
Requirements:
- Must have an investment account and active investment portfolio with a Receiving Agent
Allocation:
- Maximum of 2,571,429 Ordinary Shares (20% of total Offer Shares)
- If retail demand is insufficient, the Lead Manager may proportionally reduce this allocation
Important Restrictions:
- Subscription by a person in the name of his divorcee is invalid and subject to regulatory enforcement
- Duplicate subscriptions are prohibited; only the first subscription will be accepted, and subsequent subscriptions will be deemed void
Shareholder Structure
Substantial Shareholder and Ownership Percentages held thereby Pre- and Post-Offering
| Shareholder Name | Pre-Offering | Post-Offering | ||||
|---|---|---|---|---|---|---|
| No. of Shares | Direct Ownership | Par Value (SAR) | No. of Shares | Direct Ownership | Par Value (SAR) | |
| Rasheed Abdulrahman Nasser Al-Rasheed | 24,000,012 | 80.00% | 240,000,120 | 24,000,012 | 56.00% | 240,000,120 |
Source: the Company
Expected Offering Timetable
| Date | Event |
|---|---|
| Offering Period for Participating Parties and Book-Building Process | Five days commencing on Sunday, 02/06/1447H (corresponding to 23/11/2025G) and ending at 5:00 p.m. on Thursday, 06/06/1447H (corresponding to 27/11/2025G). |
| Submission Period for Individual Subscribers | Three business days commencing on Sunday, 16/06/1447H (corresponding to 07/12/2025G) and ending at 3:00 p.m. on Tuesday, 18/06/1447H (corresponding to 09/12/2025G). |
| Deadline for submission of Subscription Application Forms by Participating Parties based on the initial allocation of Offer Shares | Thursday, 13/06/1447H (corresponding to 04/12/2025G). |
| Deadline for submission of Subscription Application Forms and payment of the subscription monies by Individual Subscribers | Tuesday, 18/06/1447H (corresponding to 09/12/2025G). |
| Deadline for payment of subscription money by Participating Parties based on their initially allocated Offer Shares | Sunday, 16/06/1447H (corresponding to 07/12/2025G). |
| Announcement of final Offer Shares allotment | Monday, 24/06/1447H (corresponding to 15/12/2025G). |
| Refund of excess subscription monies (if any) | No later than Tuesday, 25/06/1447H (corresponding to 16/12/2025G). |
| Expected trading commencement date for the Shares on the Exchange | Trading of the Offer Shares on the Exchange is expected to commence after all relevant legal requirements and procedures have been fulfilled. Trading will be announced in local newspapers and on the Saudi Exchange website (www.saudiexchange.sa). |
Note: The above timetable and dates therein are indicative. Actual dates will be communicated in local daily newspapers and on the Saudi Exchange website (www.saudiexchange.sa), the Company’s website (https://Al-Ramzre.com) and the website of the Financial Advisor (www.alahlicapital.com).
Introducing the new IPO feature on Sahm platform: A step-by-step guide to subscribing to the IPO
Click to read the full Prospectus
Further updates regarding this IPO will be provided as more information becomes available.
