sedco capital’s second real estate income fund acquires new properties
Last Updated : GMT 05:21:58
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Last Updated : GMT 05:21:58
Arab Today, arab today

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

Arab Today, arab today

Arab Today, arab today SEDCO Capital’s second real estate income fund acquires new properties

SEDCO CAPITAL
Jeddah - Arab Today

SEDCO Capital, a major Saudi licensed asset manager, announced the acquisition of seven real estate assets over the past 19 months on behalf of SEDCO Capital Real Estate Income Fund II (SCREIF II), bolstering the firm’s realty portfolio in Saudi Arabia. SEDCO Capital Real Estate Income Fund II is a Shariah-compliant, close-ended investment fund established in the Kingdom under Article 4-B-4 of the Investment Funds Regulations and managed by SEDCO Capital as fund manager.
The fund’s objective is to invest in high quality income generating real estate assets in the main cities of the Kingdom. The main purpose of investment of the fund is to provide investors with a cash income with the possibility of a capital increase by investing in real estate assets in Saudi Arabia.
SEDCO Capital, on behalf of SEDCO Capital’s Real Estate Income Fund II, acquired seven properties since its inception in November 2014.
, which included an anchored standalone Hyper Panda retail in Dammam as well as the adjacent land used for parking, Olya School in Riyadh, Dar Al Baraa School in Riyadh, an anchored standalone 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 across Riyadh and Dammam.
Hasan Al-Jabri, CEO of SEDCO Capital, said: “As our total assets under management reach the $5.2 billion mark, it is a testament to the confidence our clients have placed in our team and our approach.”
Sherif Selim, head of MENA real estate at SEDCO Capital, said: “We have identified the Saudi real estate market in particular, as an attractive asset class for investors and our dedicated team offers funds, separate accounts and syndicated transactions across the full spectrum of real estate strategies.”

Source: Arab News

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