Announcements
Jadwa Investment Company announces the update of the terms and conditions of the Jadwa REIT Al-Haramain Fund
Tue, 20 October 2020
Jadwa Investment Company announces the material changes on the terms and conditions of the Jadwa REIT Al-Haramain Fund according to the approval of the unit holders in the first meeting that was held on Thursday 28 Safar 1442 AH corresponding to October 15, 2020. The change takes effect on 17/03/1442 H corresponding to 11/03/2020.
Details of the material changes are as follows:
Adjusting the percentage of asset allocation in Makkah and Madina to be 60% at least of total fund asset value, instead of at least 100% of the total asset value.
Geographical expansion for the fund’s investments in addition to Makkah and Madina in order to include the rest of the cities in the Kingdom, with a percentage that does not exceed 40% of fund total asset value.
Allowing the fund to invest in real estate assets outside the Kingdom with a percentage that does not exceed 25% of fund total asset value.
Updating the fund’s other investments and maintaining allocation the same, with a percentage that does not exceed 25% of fund total asset value, and adding the following:
Buy-back and Leasehold agreements.
Cash and money market funds.
Units in Real Estate investment funds, whether it was private or publicly listed, and whether it was managed by the fund manager or any fund manager, as long as it is Shariah compliant and CMA regulated fund.
The detailed material changes can also be found through the attachments or through the following link:
<a href="https://reit.jadwa.com/uploads/attachments/HREIT-TC_Signed_01102020.pdf…;