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Saleh Abdulaziz Al Rajhi & Partner
Abdulaziz Sulaiman Al-Rajhi steers the family office for the Al Rajhi Bank co-founder, overseeing a portfolio anchored by the Jabal Omar mega-development.
Saleh Abdulaziz Al Rajhi & Partner
The firm manages capital originating from Sheikh Saleh Abdulaziz Al Rajhi, the co-founder of Al Rajhi Bank who, alongside his brothers, built one of the world's largest Islamic financial institutions. His single-family office, headquartered in Riyadh, preserves and deploys this wealth through a mix of direct investments and operating businesses. The office also coordinates with the Saleh Abdulaziz Al Rajhi Endowment, a separate philanthropic vehicle that channels family wealth toward social and charitable initiatives aligned with Islamic values. Investment activity concentrates on large-scale, hard-asset projects across Saudi Arabia. The flagship holding is a significant stake in the Jabal Omar mega-development in Makkah, a high-density mixed-use project adjacent to the Grand Mosque, where family principals maintain board representation. The portfolio extends to direct real estate in Riyadh — including the Al-Ghadir and Al-Nafal neighborhood developments — and a distinctive agricultural operation encompassing date palm projects in Al Batin, Durma, and the world's largest palm tree project in Buraydah, Qassim. The office also maintains commitments to private equity and public markets. The team includes named business partners Hesham Abdulaziz Al-Zaid, who advises the family office and endowment, and Saleh Abdullah Al-Zumaie, who represents family interests on the Jabal Omar board. The office's posture is deeply rooted in the Riyadh business establishment, with Sheikh Saleh having been a prominent leader in the Riyadh Chamber of Commerce. The firm's structural differentiator lies in its operating-company approach to wealth preservation. Rather than functioning as a pure financial allocator, the office oversees active real estate development projects and on-the-ground agricultural operations — a posture that ties its returns to the physical expansion of Saudi cities and food-security assets, distinct from the liquid-portfolio model common among institutional family offices.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
Middle East
Country
Saudi Arabia
City
Riyadh
Corporate office
Riyadh, Saudi Arabia
Principals
Abdulaziz Sulaiman Al-Rajhi
Key principal and board representative
Hesham Abdulaziz Al-Zaid
Business Partner and board member
Saleh Abdullah Al-Zumaie
Business Partner and board member of Jabal Omar
Sector focus
Frequently asked questions
What is the relationship between Saleh Abdulaziz Al Rajhi & Partner and Al Rajhi Bank?
The family office manages wealth generated by the late Sheikh Saleh Abdulaziz Al Rajhi, who co-founded Al Rajhi Bank with his brothers. The bank is now a publicly traded institution and one of the largest Islamic banks globally. While the family office is separate from the bank's operations, the originating wealth ties back to the founding family's stake and dividends. The office's principal, Abdulaziz Sulaiman Al-Rajhi, remains a key figure across the family's business interests.
What is the firm's most significant direct real estate holding?
The flagship direct holding is a significant stake in the Jabal Omar mega-development, a large-scale mixed-use project in Makkah adjacent to the Grand Mosque. Family representatives, including Saleh Abdullah Al-Zumaie, sit on Jabal Omar's board to oversee the investment. The project is one of the most prominent real estate developments in the holy city.
Does the office only invest in real estate, or does it operate businesses directly?
While real estate forms the core of the portfolio, the office functions more like an operating company than a pure financial allocator. It directly manages neighborhood developments in Riyadh, such as Al-Ghadir and Al-Nafal, and operates agricultural projects. These include date palm farms in Al Batin and Durma, plus the world's largest palm tree project in Buraydah, Qassim. The portfolio also includes commitments to private equity and public markets.
How does the firm's philanthropic structure work?
The family's charitable activities are channeled through the Saleh Abdulaziz Al Rajhi Endowment, a separate legal entity from the family office. The endowment pursues social and philanthropic initiatives aligned with the family's values and Islamic charitable principles. Hesham Abdulaziz Al-Zaid serves as an advisor to both the family office and the endowment, bridging the two structures.
Is the firm open to co-investing with external partners?
The firm's investment posture is primarily direct, focusing on wholly-owned or controlled real estate development and agricultural operations in Saudi Arabia. There is no public evidence of a formal co-investment program or club-deal structure for outside institutional partners. The family office and its principals operate through board representation and direct ownership rather than pooled third-party vehicles.
Who runs the office on a day-to-day basis?
The office is driven by family principal Abdulaziz Sulaiman Al-Rajhi, who acts as a key representative across major portfolio companies. He is supported by long-standing business partners: Hesham Abdulaziz Al-Zaid serves as a board member and advisor, and Saleh Abdullah Al-Zumaie represents the family's interests on the board of Jabal Omar. The team operates from Riyadh.
Where does the underlying wealth come from?
The wealth originates from the co-founding of Al Rajhi Bank by Sheikh Saleh Abdulaziz Al Rajhi and his brothers. Starting as a money-changing and remittance business catering to pilgrims and expatriate workers, it grew into the world's largest Islamic bank by assets. The family office now manages the proceeds of that legacy across real estate, agriculture, and other assets.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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