Saudi oil giant Aramco is exploring a major real estate transaction that could raise at least $10 billion, according to a Bloomberg report citing people familiar with the matter.
The potential deal would reportedly involve a sale and leaseback arrangement tied to several of the company’s real estate assets, including the Dhahran Camp residential complex in Saudi Arabia’s Eastern Province. Under such a structure, Aramco could sell ownership of the properties to investors while continuing to use them through long-term lease agreements.
The move is seen as part of the state-backed energy company’s broader strategy to unlock value from its infrastructure and operational assets while securing fresh capital amid ongoing geopolitical tensions in the Middle East.
Sources told Bloomberg that Aramco has been in discussions with infrastructure and real estate investment funds regarding the possible transaction. The company has not publicly confirmed the plans.
The proposed agreement would mirror similar asset monetization deals completed by Aramco in recent years. In 2025, the company finalized an $11 billion lease-and-leaseback deal tied to its Jafurah gas processing facilities. That transaction involved the creation of Jafurah Midstream Gas Company, which acquired development and usage rights for key facilities before leasing them back to Aramco under a 20-year arrangement.
Aramco has increasingly turned to such deals as a way to generate liquidity while maintaining operational control of strategic assets.
Bloomberg also reported that the company is evaluating additional financing opportunities involving its water infrastructure business and gas-fired power plants.
The latest fundraising efforts come as Aramco continues to navigate regional instability and shifts in global energy markets. Despite disruptions linked to the temporary closure of the Strait of Hormuz earlier this year, the company recently posted first-quarter earnings that exceeded analyst expectations.
Aramco President and CEO Amin Nasser said the company’s East-West Pipeline played a critical role during the shipping disruptions, allowing crude exports to be rerouted through the Red Sea.
“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,” Nasser said during the company’s earnings announcement.
Aramco remains the world’s largest oil exporter and one of the most valuable energy companies globally.
