Commenting on the launch, Hasan Al-Jabri, chief executive officer of SEDCO Capital, said: “This offering is in line with the 2018 record state budget, the largest in the Kingdom’s history, and the increasing expenditure on development which has exceeded expectations. With a large youth population and a healthy economic outlook, we are witnessing increased appetite and demand across various income generating real estate products and assets.”

With an occupancy rate of over 92%, SEDCO Capital’s real estate portfolio has grown to include seven assets under the SEDCO Capital Real Estate Income Fund across various geographical regions.

“In the next 3 years, SEDCO Capital Real Estate Income Fund targets to generate an initial net yield of 7%, through the acquisition of additional assets and by utilizing capital, given that current annual return of the portfolio stands at approximately 6.1% before financing. We are aiming to distribute at least 90% of the fund’s annual net income over the fund term, in addition to any capital gains that have resulted from real estate transactions,” he added.