Jadwa Investment Company has started the additional offering of the Saudi Jadwa REIT Fund with the aim of raising 370 million riyals, according to which the proceeds of the additional offering will be used to complete the acquisition of the famous commercial property, Riyadh Boulevard.
According to Arab Net, the company said in a statement that Jadwa REIT Saudi Arabia is a closed-end, Shariah-compliant real estate investment fund with a term of 99 years and a total asset value of 99 years. Currently, 2.19 billion Saudi riyals.
Jadwa Investment stated that the fund aims to provide investors with a continuous source of income through the distribution of periodic profits by investing in high-quality real estate assets in the main cities of the Kingdom. /p>
The fund's distributions since listing have grown steadily over 14 quarters, with cumulative distributions since listing reaching SAR 2.49 per unit.
According to the statement, the total value of the assets of the Jadwa REIT Saudi Fund has increased by 370 million riyals (equivalent to 16.9%), bringing the size of the fund after the increase to 2.56 billion riyals.< /p>
The acquisition of the Riyadh Boulevard property will contribute to enhancing the diversification of the fund's assets, as this property is considered one of the most diversified commercial complexes in the north of Riyadh, and contains spaces designated for restaurants and cafes, hotel, gym, and office space.
The Boulevard complex in Riyadh also has long-term lease agreements with several reputable brands.
As it is one of the main destinations of Riyadh residents as a commercial and leisure destination, the purchase price of the property is a distinct opportunity for investors when compared to the evaluations of accredited residents. The asset is expected to achieve a net rental income of SAR 29.6 million annually, equivalent to a net rental return of 9.2% for the asset, which is an attractive investment return considering its distinguished location and position.
For his part, Managing Director and CEO of Jadwa Investment, Tariq Al-Sudairy, said: The additional offering of Jadwa REIT Saudi Arabia enhances our leadership position as a real estate investor and REIT fund manager.
He stated that the company offers its current and potential clients the opportunity to invest in Jadwa REIT Saudi Fund at an attractive price and to be exposed to high-quality real estate assets in the main cities of the Kingdom.
According to the terms and conditions of the fund, the value of the investment and any income resulting from it may increase or decrease or be completely lost, and the expected and targeted results are not guaranteed, and past performance is not guaranteed. It does not guarantee future results.
