Hasan Al-Jabri

#Saudi SEDCO Capital launches #REIT Fund

Saudi SEDCO Capital announced the offering of its first Shariah-compliant real estate investment traded fund SEDCO Capital REIT. The fund will be offered to the general public through an initial public offer during the period of Jan. 24 to Feb. 6. With an occupancy rate of over 92%, SEDCO Capital’s real estate portfolio has grown to include seven assets across various geographical regions. According to CEO Hasan Al-Jabri, 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. To facilitate the offering period, three receiving entities were appointed for investors to subscribe, these include NCB, Al Rajhi Bank and Samba Financial Group.

SEDCO Capital’s second real estate income fund acquires new properties

SEDCO Capital announced the acquisition of seven real estate assets over the past 19 months, bolstering the firm’s realty portfolio in Saudi Arabia. The purchased assets include the Hyper Panda retail in Dammam, Olya School in Riyadh, Dar Al Baraa School in Riyadh, an Extra Store in Dammam, Alhamra Plaza retail strip outlet in Riyadh and Irgah Plaza retail strip outlet in Riyadh. The acquisitions collectively total SR473 million in purchase price for approximately 88,000 sqm of built up area. According to Hasan Al-Jabri, CEO of SEDCO Capital, the total assets under management reach the $5.2 billion mark and clearly show clients' confidence in SEDCO.

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