CMA-licensed Awaed Financial Platform launches real estate development fund

By Arya M Nair, Official Reporter
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Awaed Platform launches real estate fund
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Awaed Financial Platform, licensed by the Saudi Capital Market Authority (CMA), has revealed new investment opportunities in which Darco Real Estate Company, and Qasr Al Masakin Company, the marketer of the project, will cooperate under the management of Rasana Capital Company to establish the first Darco Real Estate Development Fund “Jeddah.”

The Fund aims to acquire residential land in the Al-Safa neighborhood in Jeddah to construct four residential complexes comprising 184 housing units, to be sold after the completion of implementation work and the distribution of profits to investors after liquidating the Fund.

Awaed Financial Platform provides investors with investment opportunities in projects that aim to make a profit after the liquidation of the project, which extends to 18 months. The investment value is $266 per unit. The project aims to invest $26.5 million through the Platform.

Awaed Financial Platform is the first subscription platform for real estate and investment funds in the Kingdom. It allows investment for qualified individuals and companies, according to the regulations and requirements of the Capital Market Authority, which provides the highest level of governance that contributes to the interests and benefits of investors.

Awaed platform is owned by Awaed Financial Assets Company. The platform allows investors to subscribe to investment and real estate funds licensed by the CMA and to manage financial companies through easy and simple digital steps available to all,  through which the investor will obtain a certificate proving his ownership of the investment unit.

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