Jadwa Investment, a Saudi-base investment management and advisory firm, has launched an $800 million Real Estate Growth Fund, teaming up with Tatweer Group, Numu Holding Company and Riyad Bank.
In a statement, the firm said that the Real Estate Growth Fund is part of its diversified real estate portfolio, which has expanded significantly over the last two years. As of February 2022, the firm is managing a total of $3.35 billion in real estate assets across its various developments and income-generating funds.
It added that Real Estate Growth Fund is a closed-ended Shariah-compliant real estate investment fund. The fund aims to provide investors 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.
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 fund has already acquired “The Zone”, one of Riyadh’s most prominent commercial assets, located in Al Mohammadiya district.
The Real Estate Growth Fund further builds on Jadwa’s 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”.
In addition, the fund will benefit from the expertise of Numu Holding Company, a Tatweer subsidiary that will serve as the fund’s asset operator.
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.”