Announcements
Jadwa Investment Company Announces Substantial Developments for the Jadwa REIT Saudi Fund
Tue, 06 July 2021
Description of the event:
Jadwa Investment Company (“Fund Manager”), in its capacity as the manager of Jadwa REIT Saudi Fund (the “Fund”), announces obtaining the Capital Market Authority’s approval on 26/11/1442H corresponding to 06/07/2021G, on the supplementary annex to the terms and conditions in relation to increasing the total value of the Fund’s assets by a value of three hundred seventy million (370,000,000) Saudi Riyals, in order to acquire a new targeted real estate asset (commercial and offices) by the Fund, which is the Riyadh Boulevard complex (commercial and offices) located in Riyadh, Hittin district with reference to the Fund Manager's announcement on 20/07/1442H corresponding to 04/03/2021G.
The Fund Manager will announce any developments in this regard, including inviting the current unitholders to vote on increasing the total value of the Fund’s assets and the fundamental changes in the supplementary annex to the terms and conditions of the Fund.
The supplementary annex to the terms and conditions can be viewed through the following link:
https://dev.jadwa.is.sa/sites/default/files/2022-03/Jadwa_REIT_Saudi_TC_06072021.pdf
The Impact Caused by the Event:
This acquisition would expand and diversify the asset base currently owned by the Fund, and therefore the Fund Manager expects that the impact of this development to be positive in general on the performance and results of the Fund.