Jadwa Investment says Real Estate Investment Fund exits property worth SAR 2.5 bln

04/07/2023 Argaam
Logo ofJadwa Investment Co.

Logo of Jadwa Investment Co.

Jadwa Investment Co., in its capacity as the fund manager of Jadwa REIT Saudi Fund and Jadwa REIT Al Haramain Fund, announced updates on its investment in the Real Estate Investment Fund that has successfully exited one of its properties, Al-Nakhla Residential Compound, located in Qurtobah district, Riyadh.

 

The property represents more than 70% of the real estate portfolio of the Real Estate Investment Fund at a price of SAR 2.5 billion, Jadwa Investment said in separate statements on Tadawul.

 

No related parties are part of this transaction, the statements said, adding the dividend that will be realized to both funds will be announced once all the financial settlements related to the property are finalized.

 

The financial impact of this transaction is expected to be generally positive on the funds’ financial performance in the second half of 2023.

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