Jeddah : Saudi Arabia’s state-owned energy giant Saudi Aramco is reportedly preparing a major real estate transaction that could raise at least $10 billion through the sale and leaseback of key assets, including its well-known Dhahran Camp residential community in the Kingdom’s Eastern Province.
According to a report by Bloomberg, the company is in discussions with global real estate and infrastructure investment funds as part of a broader strategy to unlock value from its vast portfolio of assets while maintaining operational control.
Sources familiar with the matter said the proposed arrangement would likely allow Aramco to sell certain real estate holdings and immediately lease them back for long-term use. The structure mirrors previous infrastructure financing deals completed by the company in recent years.
The move comes as Aramco continues to diversify its funding sources amid ongoing geopolitical uncertainty in the Middle East and fluctuating global energy markets.
Last year, the oil giant signed an $11 billion infrastructure agreement involving its gas assets with an international consortium led by BlackRock.
The transaction focused on Aramco’s Jafurah gas processing facilities and involved a 20-year lease and leaseback structure.
A newly established subsidiary named Jafurah Midstream Gas Company received development and usage rights for key facilities linked to the massive Jafurah gas field project, while Aramco retained operational access through long-term lease arrangements.
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Reports now suggest that Aramco is also exploring additional financing opportunities tied to its water infrastructure operations and gas-fired power plants as part of its long-term capital strategy.
The company recently reported stronger-than-expected first-quarter earnings despite disruptions caused by tensions around the Strait of Hormuz, which remained closed for nearly a month earlier this year during the regional conflict involving Iran, the United States, and Israel.
Commenting on the results, Aramco CEO Amin Nasser highlighted the importance of the company’s East-West Pipeline network in maintaining oil exports during the crisis.
“Our East-West Pipeline, which reached its maximum capacity of 7.0 million barrels of oil per day, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints in the Strait of Hormuz,” Nasser said.
Industry analysts believe the planned real estate deal reflects a growing trend among Gulf energy companies to monetise infrastructure and property assets while preserving operational flexibility.
If completed, the transaction would rank among the largest real estate-linked financing deals in the region and further strengthen Aramco’s ability to fund expansion projects across energy, gas, and infrastructure sectors.