Jadwa Investment, one of Saudi Arabia’s largest privately-owned investment banks, today announced that Jadwa REIT Saudi Fund has acquired two new properties for a total value of 93 million Saudi riyals ($25 million).

The fund acquired an office tower in Riyadh for a total value of 59 million Saudi riyals ($16 million), according to a statement on Saudi bourse. The second property acquired by the fund is a hotel property in Riyadh for a value of 34 million Saudi riyals ($9 million).

The acquisition of both properties will be financed through an existing Shariah-compliant credit-line facility obtained from Banque Saudi Fransi.

(Writing by Nada Al Rifai nada.rifai@refinitiv.com ; Editing by Seban Scaria)

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