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The World Green Economy Summit (WGES) 2019 was held in Dubai and saw the attendance of over 3,000 delegates. The plenary session of the summit explored lucrative opportunities presented by green finance and how businesses can tap into this promising market. Hasan Al-Jabri, CEO of SEDCO Holding Group, highlighted the company’s Prudent Ethical Investing (PEI) strategy and stressed the significance of ethical and socially conscious investing. SEDCO Holding’s PEI-based portfolios combine the principles of responsible and Shariah-compliant finance, bringing together the many benefits of both approaches. The portfolios ensure long-term risk-adjusted returns to support the performance of businesses and promote greater sustainability.

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 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.