Jadwa Investment Company, in its capacity as the manager of Jadwa REIT Saudi Fund, announced the approval of the fund’s board of directors on the proposed change in the total value of the fund’s assets, which the fund’s manager intends to submit to the Capital Market Authority and the Capital Market Company “Tadawul” for approval, by acquiring a new target real estate asset ( Commercial and office) by the fund.
The fund stated, in a statement to the “Tadawul” financial market website, today, Wednesday, that the targeted acquisition includes a new real estate asset in the city of Riyadh, which will be announced upon the signing of the real estate sale and purchase agreement.
According to the statement, the total value of the fund’s assets will increase to 370 million Saudi riyals by accepting in-kind and cash contributions, after obtaining the necessary approvals for the acquisition of the targeted new real estate asset.
The fund manager expects that the impact resulting from this development will be positive in general on the performance and results of the fund.
The fund manager will disclose any developments in this regard, noting that the increase in the fund’s total assets value is subject to the approval of the Capital Market Authority and the Capital Market Company “Tadawul” as well as the approval of the fund’s unit owners.
It should be noted that the fund distributed profits for the fourth quarter of the year 2020 amounting to 30.020 million riyals, with the distributor’s profit of 0.19 riyals per unit, and in proportion to the initial unit price of 1.9%.