With a capital of 6.09 billion riyals, the Capital Market Authority has approved the public offering of units in the Makkah Real Estate Development Fund following a request submitted by Al-Inmaa Investment Company, with the fund’s term set at five years, extendable for a similar period.
The primary objective of the fund, managed by Al-Inmaa Investment Company, is to acquire developed, income-generating real estate in the hotel, hospitality, and commercial center sectors in the city of Makkah, specifically those located within the first phase of the Jabal Omar project adjacent to the Grand Mosque.
These assets will be subleased to Jabal Omar Development Company for a period of 10 years at a return of 540 million riyals. The fund’s assets consist of:
– Three hotels: Hilton Hotel Suites, Hyatt Regency, and Conrad.
– Two shopping complexes (Souk Al-Khalil): Two shopping complexes, each consisting of four floors.
