Saudi-based asset management firm, Jadwa Investment has launched an $800mn (SAR 3bn) Real Estate Growth Fund in collaboration with Tatweer Group, Numu Holding Company and Riyadh Bank.
The fund is a close-ended, Sharia-compliant investment that seeks to capitalise on the kingdom’s growing property market, it said in a statement. The fund aims to provide investors with a stable stream of income and compelling capital appreciation over the medium to long-term by investing in differentiated, income-generating properties in the kingdom.
Jadwa Investment stated that as of February 2022, the firm is managing a total of $3.35bn (SAR 12.6bn) in real estate assets across its various developments and income-generating funds.
Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, said: “The successful launch of the Real Estate Growth Fund underscores our belief in Saudi Arabia’s real estate sector and our commitment to provide clients the best selection of investment opportunities in this market.”
The company stated that the Real Estate Growth Fund has already acquired “The Zone” – one of Riyadh’s most prominent commercial asset, located in Al Mohammadiya district.
Jadwa Investment capitalises on Saudi’s real estate market
Jadwa Investment’s fund further builds on its accelerating growth and continued focus on Saudi Arabia’s booming real estate landscape. The fund also marks Jadwa’s third partnership with Tatweer Group, one of the most prominent developers in the Saudi real estate market, and third collaboration in the real estate sector with Riyad Bank, which provided debt financing for the acquisition of “The Zone”, the company added in the statement.
Salamah Bin Mulhi Bin Saedaan, CEO of Tatweer Group, commented: “Through our robust and expanding partnership with Jadwa Investment, we are glad to provide investors with a unique investment opportunity and access to premium real estate assets in the kingdom, in line with Tatweer’s vision.”
In addition, the Real Estate Growth Fund will benefit from the expertise of Tatweer’s subsidiary – Numu Holding Company – that will serve as the fund’s asset operator, the company stated.
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