What Albilad Capital does

Albilad Capital (legal name: شركة البلاد للاستثمار / Al Bilad Investment Company) is a privately held, CMA-licensed Saudi investment management firm (license 08100-37, CR 1010240489), founded in 2008 and headquartered in Riyadh with 251-500 employees. The company builds and manages investment products across three core surfaces: (i) exchange-traded funds listed on the Saudi Exchange (Tadawul), including the Albilad Saudi Sovereign Sukuk ETF (9403.SA), the Albilad MSCI Saudi Growth ETF, and the Albilad MSCI US Tech. ETF; (ii) closed-ended private real estate investment funds, notably a SAR 1.5 billion mandate from Knowledge Economic City (KEC) to develop the Multaqa Hospitality Cluster 1 in Medina; and (iii) fund custody and administration services for third-party asset managers such as the SICO GCC Dividends Fund. Underlying technology is a regulated investment fund management and securities services platform with no disclosed proprietary AI/ML, although the firm entered robo-advisory through a partnership with Madkhol Capital in early 2026.

The business model is fee-based across three streams: ETF management fees on Tadawul-listed products, fund management fees on private mandates (e.g., the KEC SAR 1.5B closed-ended fund), and custody/administration fees for third-party funds. Go-to-market combines marketplace listing (Tadawul), enterprise field sales for direct institutional appointments, and channel partnerships with financial institutions for custody, administration, and digital wealth management. Customer segments are institutional investors (large developers and asset managers requiring Vision 2030-aligned capital formation), retail investors (accessing diversified ETFs on Tadawul), and other asset management firms (outsourcing custody and fund administration).

Strategic positioning is anchored by a strategic cooperation agreement with State Street Corporation (Oct 2025) and alignment with Saudi Arabia's Vision 2030 financial sector diversification agenda, including Vision 2030-aligned tourism infrastructure financing via the KEC mandate. The firm is led by CEO Zaid Almufarih, Chairman Abdulaziz AlOnaizan, and COO Fahad Al Mazyad.

Name

Albilad Capital

Legal name

شركة البلاد للاستثمار (Al Bilad Investment Company)

Website

https://albilad-capital.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

251–500 employees

Short description

Albilad Capital is a CMA-licensed Saudi investment management firm in Riyadh that manages Tadawul-listed ETFs, closed-ended private real estate funds (including a SAR 1.5B KEC mandate), and third-party fund custody services for institutional, retail, and asset management clients.

Ownership category

akta.pro rank

Product category

Investment Management & Securities Services

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Investment management services
• Exchange traded funds
• Asset management
• Securities custody services
• Private real estate funds

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Fund Management Fees: Generates revenue by charging management fees as the appointed fund manager for investment funds, including closed-ended private real estate funds and ETFs listed on Tadawul.
2. Custody and Administration Services: Provides custody services to third-party investment funds, earning fees for securities custody and fund administration functions.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels1 record

Core offering

Albilad Capital is a Saudi-based investment management company that provides trading, brokerage, portfolio management, asset management, investment banking, market research, and securities services. It manages exchange-traded funds listed on the Saudi Exchange (Tadawul) — including a Saudi sovereign sukuk ETF, an MSCI Saudi Growth ETF, and an MSCI US Tech ETF — and serves as fund manager for closed-ended private real estate investment funds and as custodian/administrator for third-party investment funds.

Product overview

Albilad Capital operates as a diversified investment management company in Saudi Arabia offering a portfolio of exchange-traded funds (ETFs) listed on Tadawul including Albilad Saudi Sovereign Sukuk ETF, Albilad MSCI Saudi Growth ETF, and Albilad MSCI US Tech. ETF. The company also manages closed-ended private real estate investment funds, provides fund custody services, and has recently entered the robo-advisory platforms space through strategic partnerships. The offering comprises a mix of regulated investment products including ETFs (providing accessible market exposure), private real estate funds (for institutional and high-net-worth investors), and digital wealth management partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Albilad Saudi Sovereign Sukuk ETF: Exchange-traded fund trading on Saudi Exchange (Tadawul) under ticker 9403.SA
• Albilad MSCI Saudi Growth ETF
• Albilad MSCI US Tech. ETF

Products and services

• Albilad Saudi Sovereign Sukuk ETF Exchange-traded fund trading on the Saudi Exchange (Tadawul) under ticker 9403.SA, providing exposure to Saudi sovereign sukuk (Islamic bonds). The fund releases quarterly statements providing standard fund performance and holdings information. Targeted at retail and institutional investors seeking sukuk exposure.
• Albilad MSCI Saudi Growth ETF Exchange-traded fund providing exposure to the MSCI Saudi Arabia Growth index, listed and filed with the Saudi Exchange (Tadawul). Releases quarterly regulatory statements for investor transparency. Targets investors seeking diversified exposure to Saudi growth equities.
• Albilad MSCI US Tech. ETF Exchange-traded fund providing exposure to US technology stocks through the MSCI US Tech index, listed on the Saudi Exchange (Tadawul). Releases quarterly regulatory filings. Targets investors seeking international tech equity exposure via a domestic Saudi-listed vehicle.
• Multaqa Hotels Real Estate Investment Fund Closed-ended private real estate investment fund managed by Albilad Capital for Knowledge Economic City (KEC). Fund targets the Multaqa Hospitality Cluster 1 project adjacent to the Haramain Highspeed Railway in Medina, Saudi Arabia, with estimated development value of SAR 1.5 billion. Phase I includes JW Marriott Hotel, Marriott Hotel, and branded residential units. Targeted at institutional and high-net-worth investors.
• SICO GCC Dividends Fund Custody Services Albilad Capital appointed as custodian for the SICO GCC Dividends Fund, an open-ended equity fund domiciled in Saudi Arabia offering exposure to dividend-paying equities across the GCC region with quarterly income and long-term capital growth objectives. Two unit classes are offered to institutional investors (minimum SAR 10 million) and retail investors (minimum SAR 10,000).
• Robo-Advisory Platform via Madkhol Capital Partnership Strategic partnership with Madkhol Capital enabling Albilad Capital's entry into the robo-advisory platforms segment, expanding digital wealth management product offerings in Saudi Arabia. Broadens the firm's reach into automated investment advisory services for retail and mass-affluent investors.

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered flagship and core.

• Knowledge Economic City (KEC)flagshipStrategic or Co-development Partner · 12 July 2026KEC signed a non-binding term sheet with Albilad Capital to appoint the latter as manager of a closed-ended private real estate investment fund. The fund aims to finance and develop the Multaqa Hotels (Phase I) within the Multaqa Almadinah mixed-use development in Madinah, including JW Marriott Hotel (288 keys), Marriott Hotel (327 keys), and approximately 295 branded residential units with total development value of SAR 1.5 billion.
• SICO CapitalcoreChannel Partner/ Reseller/ Distributor · 18 June 2026SICO Capital, a wholly owned subsidiary of SICO BSC (c), launched the SICO GCC Dividends Fund and appointed Albilad Capital as the fund's custodian. The open-ended equity fund, domiciled in Saudi Arabia, offers two unit classes targeting institutional investors (minimum SAR 10 million) and retail investors (minimum SAR 10,000).
• Madkhol CapitalcoreStrategic or Co-development Partner · 3 February 2026Madkhol Capital signed deals with Albilad Capital in early 2026 as part of its strategy to broaden product offerings and deepen market penetration in the robo-advisory space. Albilad Capital entered the robo-advisory platforms segment for the first time through this partnership, expanding into digital wealth management services.
• State Street CorporationcoreStrategic or Co-development Partner · 29 October 2025State Street Corporation and Albilad Capital signed a strategic cooperation agreement on October 29, 2025, to enhance securities services in Saudi Arabia. The partnership combines State Street's global capabilities (managing $127 billion AUC/A and $60 billion AUM for Kingdom clients) with Albilad Capital's local expertise, aligning with Vision 2030 to diversify the economy and develop the capital market.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Regional players

• SICO BSC: Bahrain-based regional investment bank and asset manager. Albilad serves as custodian for SICO's GCC Dividends Fund, reflecting overlapping GCC institutional fund management and brokerage activities.

Direct peers

• GIB Capital: Saudi investment banking and asset management subsidiary of Gulf International Bank. Directly comparable to Albilad in Saudi investment banking, advisory, and institutional asset management mandates.
• Alinma Investment: Shariah-compliant Saudi investment firm affiliated with Alinma Bank, offering brokerage, asset management, and investment banking. Comparable to Albilad in Islamic/Sukuk product focus and institutional fund management.
• SNB Capital: Leading Saudi asset manager and investment bank affiliated with Saudi National Bank. Competes head-to-head with Albilad Capital in ETF issuance, fund management, brokerage, and institutional mandates in the Saudi market.
• Aljazira Capital: Saudi investment management and brokerage firm offering asset management, advisory, and custody services. Comparable mid-tier Saudi competitor with overlapping ETF and private fund offerings.
• Al Rajhi Capital: Investment arm of Al Rajhi Bank offering brokerage, asset management, and investment banking services in Saudi Arabia. Directly comparable to Albilad in retail/ETF distribution and institutional fund management.
• Riyad Capital: One of the largest Saudi investment firms offering asset management, brokerage, investment banking, and custody. Directly competes with Albilad Capital across the same product lines (ETFs, private funds, advisory) within Saudi Arabia.
• Saudi Fransi Capital: Investment banking and asset management subsidiary of Banque Saudi Fransi. Directly competes with Albilad in Saudi brokerage, asset management, and investment banking mandates.
• NCB Capital (now SNB Capital): Major Saudi investment firm (now merged under SNB Capital) historically a top-tier competitor in brokerage, asset management, and investment banking across the Saudi market.

Broad incumbents

• State Street Global Advisors: Global asset manager with $127B AUC/A in Saudi-related mandates. Strategic partner of Albilad but also a competitor in the broader institutional asset management and custody space relevant to Albilad's Saudi fund business.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/AlbiladCapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Albilad Capital