Announcements
Addendum Announcement from Jadwa Investments Company Regarding the Occurrence of a Specific Event for Jadwa REIT Al Haramain Fund
Thu, 22 June 2023
Following the announcement of Jadwa Investment Company published on 30/08/1442H (Corresponding to 12/04/2021G) in its capacity as a Fund Manager (the “Fund”) Which includes initiating the hotel’s development works located in the central area of the Holly Mosque in Makkah Al-Mukarramah, specifically on Ibrahim Al-Khalil Street, the fund manager announces the completion of the hotel’s development and its readiness for initiating the hotel’s operations starting from the Hajj season of 1444H, as the management and operation of the hotel will be assigned to Emaar Al Diyafa Hotels Company, as well as the marketing, maintenance, and supervision of the hotel.
It is worth noting that Emaar Al Diyafa Hotels Company is also managing and operating Al Taqwa Hotel and Al Andalusia Hotel located in front of Al-Khalil Hotel, which are also owned by the Fund.
It is expected that this shall have a positive impact on the Fund's financial results in the Third quarter of the year 2023.