Announcements
Announcement from Jadwa Investment Company Regarding the Occurrence of a Specific Event for Jadwa REIT Al Haramain Fund
Tue, 04 July 2023
Jadwa Investment Company, in its capacity as the fund manager of Jadwa REIT Al Haramain (the “Fund”), announces updates on its investment in the Real Estate Investment Fund that has successfully exited one of the its properties “Al-Nakhla Residential Compound” (the “Property”) located Qurtobah district in Riyadh, according to the following details:
The exited Property representing more than 70% of the real estate portfolio of the Real Estate Investment fund at a price of SAR 2.5 Billion
We would like to confirm that there is no related party involved in this exit process.
The dividend distribution that will be realized to the Fund will be announced once all the financial settlements related to the Property are finalized.
The financial impact of this transaction is expected to be generally positive on the Fund’s financial performance in the second half of 2023.