Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced today the successful launch of its Real Estate Growth Fund in partnership with Tatweer Group, NUMU Holding Company and Riyad Bank.
Real Estate Growth Fund is a closed-ended Shariah-compliant real estate investment fund with a target size of SAR 3 billion. 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. Towards this objective, 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.
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.”
Mr. 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.”
Real Estate Growth Fund is part of Jadwa’s diversified real estate portfolio, which has expanded significantly in the last two years. As of February 2022, the firm is managing a total of SAR 12.6 billion in the real estate assets across its various development and income-generating funds.