Jadwa Investment, Saudi Arabia-based leading investment management and advisory firm, has launched $800 million worth Real Estate Growth Fund, as it aims to capitalize on the growth of the Kingdom’s rapidly expanding property market.
The Real Estate Growth Fund, launched in partnership with Tatweer Group, Numu Holding Company and Riyad Bank, is part of Jadwa’s diversified real estate portfolio, which has expanded significantly in the last two years. As of February 2022, the firm is managing a total of $3.36 billion in real estate assets across its various development and income-generating funds.
It is also a closed-ended Shariah-compliant real estate investment fund. The fund aims to offer investors a stable stream of income and compelling capital appreciation over the medium to long term by investing in differentiated, income-generating properties in the Kingdom.
The new fund has already acquired The Zone, one of Riyadh’s most prominent commercial assets, located in Al Mohammadiya district, with debt financing provided by Riyad, Jadwa Investment said.
Mr. Tariq Al-Sudairy, the Managing Director and CEO of Jadwa Investment, said, “The successful launch of the Real Estate Growth Fund underscores our belief in Saudi Arabia’s real estate sector and our commitment to provide clients the best selection of investment opportunities in this market.”
The Real Estate Growth Fund further builds on Jadwa’s accelerating growth and continued focus on Saudi Arabia’s booming real estate landscape. The fund also marks Jadwa’s third partnership with Tatweer Group, one of the most prominent developers in the Saudi real estate market, and third collaboration in the real estate sector with Riyad Bank, which provided debt financing for the acquisition of The Zone.
In addition, the fund will benefit from the expertise of Numu Holding Company, a Tatweer subsidiary that will serve as the fund’s asset operator.
Mr. Salamah Bin Mulhi Bin Saedaan, CEO of Tatweer Group, commented, “Through our robust and expanding partnership with Jadwa Investment, we are glad to provide investors with a unique investment opportunity and access to premium real estate assets in the kingdom, in line with Tatweer’s vision.”
Jadwa has total client assets worth more than $18.66 billion in public equity, private equity, real estate, private credit, fixed income and money market investments. Its clients include government-related entities, local and international institutional investors, local family companies and high-net-worth individuals.