Ali Al-Fulaij, Executive Vice President, Customer Relationship Management in Rasameel, stated that the arrangement of this transaction came within the framework of the investment program in real estate designated for student housing (academic real estate), Launched by Rasameel, which is the fourth deal in a series of acquired investments, with the aim of creating a diversified portfolio of modern residential properties, which were built especially for student housing in the highly-rated universities in the United Kingdom, with the aim of achieving constant periodic return on investment.
Al-Fulaij added: This investment is expected to achieve a net annual cash return of 7% distributed quarterly to investors, with an expected internal rate of return of 10%. During the 5-year investment period.
He emphasized that Rasmeel will continue to work within its prudent strategy in light of the difficult economic conditions aimed at selecting the best investment opportunities, which are in line with future developments and changes in global markets, and expanding the portfolio Real estate investments in various sectors, to fulfill the aspirations of shareholders and investors.
For his part, Mohamed Al-Thaqib, Vice President of Alternative Investment Management at the company, said that The Rock portfolio consists of two properties dedicated to student housing in strategic locations in each of the cities of Edinburgh. Leicester in the United Kingdom, and it consists of 243 residential rooms serving more than 104 thousand students studying in six prestigious universities in the two cities mentioned.
In the details of the deal, Al-Thaqib indicated that the two properties were newly constructed as they were built in 2018 and are located close to the universities served in the two cities, and in strategic locations with walking distances to Feet to and from.
Rasameel expressed success in completing this transaction, in light of these difficult times of the Corona Virus pandemic, especially in taking many precautionary measures to reduce risks and maximize returns as possible as possible. For its investors, the most important of which is the guarantee of rents until the end of the next academic year 2020/20 in case the pandemic continues, in addition to taking advantage of the low cost of financing environment and the acquisition of the property at an attractive purchase price.
