Riyadh: Jadwa Investment, one of the region’s leading investment management and advisory firms, announced today the successful launch of its Real Estate Investment Fund (REIF) in partnership with Tatweer Holding Group, Riyad Bank and Bank Albilad. The objective of the fund is to provide investors with a stable stream of income distributions and capital appreciation over the medium and long term through the acquisition of accretive, high-quality core income-generating real estate assets in the Kingdom of Saudi Arabia.
REIF achieved an initial closing at a total value of SAR 2.8 billion, and is expected to reach an aggregate size of SAR 10 billion through its follow-on deployments. The fund’s acquisitions have been funded through a combination of equity subscriptions totaling approximately SAR 1.5 billion, along with around SAR 1.3 billion in debt financing from Riyad Bank and Bank Albilad. The fund’s real estate development partner is Tatweer Holding Group, one of the most prominent developers in the Saudi real estate market.
Commenting on the launch of the fund, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said: “The launch of Real Estate Investment Fund comes as part of our commitment to deepen our investment activity in the Saudi real estate market, expand our range of offerings, and provide compelling investment returns to our clients.”
Mr. Haitham Al-Ghannam, Managing Director and Head of Real Estate at Jadwa Investment, added, “The fund reflects our growth momentum and successful partnerships with leading real estate market players, such as Tatweer Holding Group, Riyad Bank and Bank Albilad. With stable annual distributions and significant capital appreciation potential, REIF is expected to deliver differentiated returns for our clients.”
Mr. Salamah bin Mulhi Saedaan, CEO of Tatweer Holding Group, commented, “Our partnership with Jadwa Investment in REIF aspires to provide investors with access to premium and unique real estate projects in line with Tatweer’s vision.”
The initial portfolio of the fund consists of several properties in the city of Riyadh.
Al Nakhlah Residential Compound is located in the Qurtubah district on a land area of 259,797 sqm, consists of 1,136 residential units of various sizes and types, and is considered one of the most prominent residential complexes in Riyadh. REIF Flats, a residential apartment complex, is built on a land area of 8,787.5 sqm and consists of 133 apartments. The two properties were financed in partnership with Riyad Bank.
Most recently, the fund acquired seven commercial and service towers at the Laysen Valley property, one of the upcoming and most prominent real estate projects in Riyadh. The seven towers, with a net leasable area of 42,095 sqm, are leased and have been financed in partnership with Bank Albilad. Mr. Haitham Al-Ghannam noted that the fund will continue to search for additional acquisitions to be added to its expanding portfolio for the purpose of enhancing clients’ investment returns.
About Jadwa Investment
Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with assets under management of SR 35 billion in public markets, private equity, real estate, private credit, and fixed income. The firm's clients include government-related entities, local and international institutional investors, leading local family companies and offices, and high-net-worth individuals. Jadwa Investment is licensed by the CMA as a capital market institution, with registration number 6034/37.
For more information, kindly contact the head office at:
Phone +966 11 279-1111
Fax +966 11 279-1571
P.O. Box 60677, Riyadh 11555
Kingdom of Saudi Arabia
www.jadwa.com
© Press Release 2021
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