Jadwa Investment has announced the launch of a Real Estate Growth Fund in partnership with Tatweer Group, NUMU Holding Company and Riyad Bank.
The fund is a closed-ended Shariah-compliant real estate investment fund with a target size of SR3 billion ($800 million).
The company said in a statement that 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”.
Jadwa added that the fund has already acquired The Zone, a commercial asset located in the Al Mohammadiya district of Riyadh.
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 Saudi developer Tatweer Group and its third collaboration in the real estate sector with Riyad Bank, which provided debt financing for the acquisition of The Zone.
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.”
Salamah Bin Mulhi Bin Saedaan, CEO of Tatweer Group, added: “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.”
As of February, Jadwa is managing a total of SR12.6 billion in real estate assets across its various development and income-generating funds.
Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with total client assets of more than SR70 billion in public equity, private equity, real estate, private credit, fixed income, and money market investments.
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