<The number of real estate investment opportunities offered by the General Authority for Saudi Endowments has reached about 30 investment opportunities in a number of regions since the beginning of 2021, in the form of long, medium and short-term investments.
The Makkah region accounted for about 66.7%, with 20 investment opportunities, followed by Madinah with five investment opportunities, Riyadh with three opportunities, and two investment opportunities in the Eastern Province. About 97% of the offered opportunities were formed by commercial residential buildings.
The Authority required those wishing to invest to write a certified check for 10% of the rental value for the first year, in exchange for real estate management and marketing fees in the name of “Awqaf Investment Company”, the investment arm of the General Authority for Endowments, in addition to providing proof of financial solvency and technical expertise of the investor to implement and operate the investment opportunities, according to the Economic Newspaper.
The General Authority for Endowments launched, earlier, the Endowment Investment Funds project, aiming to organize, preserve, develop, supervise, develop and disburse endowments and the contribution of the Authority in achieving financial sustainability of endowment and non-profit entities and enhancing the contribution of the endowment sector in meeting development needs.
Waqf investment funds are considered indefinite funds, all units of which are endowed and non-traded, and are available for contribution to the general public, and their return returns to the beneficiaries of the fund according to the condition of the endowment, to benefit qualified non-profit entities, according to the conditions and controls set by the General Authority for Endowments.<The funds contribute to meeting community and developmental needs, increasing the contribution of the non-profit sector to the GDP, and increasing transparency rates in non-profit activities based on the funds' compliance with the requirements of the investment funds regulations issued by the Capital Market Authority.
The Authority aims to organize, preserve, develop, and grow endowments in a way that fulfills the conditions of its endowment and enhances its role in economic and social development and social solidarity, according to the purposes of Islamic Sharia and regulations.
According to the Authority, its tasks include supervisory supervision of the work of the endowment and taking regular measures to ensure the safety of the endowment.
The Makkah region accounted for about 66.7%, with 20 investment opportunities, followed by Madinah with five investment opportunities, Riyadh with three opportunities, and two investment opportunities in the Eastern Province. About 97% of the offered opportunities were formed by commercial residential buildings.
The Authority required those wishing to invest to write a certified check for 10% of the rental value for the first year, in exchange for real estate management and marketing fees in the name of “Awqaf Investment Company”, the investment arm of the General Authority for Endowments, in addition to providing proof of financial solvency and technical expertise of the investor to implement and operate the investment opportunities, according to the Economic Newspaper.
The General Authority for Endowments launched, earlier, the Endowment Investment Funds project, aiming to organize, preserve, develop, supervise, develop and disburse endowments and the contribution of the Authority in achieving financial sustainability of endowment and non-profit entities and enhancing the contribution of the endowment sector in meeting development needs.
Waqf investment funds are considered indefinite funds, all units of which are endowed and non-traded, and are available for contribution to the general public, and their return returns to the beneficiaries of the fund according to the condition of the endowment, to benefit qualified non-profit entities, according to the conditions and controls set by the General Authority for Endowments.<The funds contribute to meeting community and developmental needs, increasing the contribution of the non-profit sector to the GDP, and increasing transparency rates in non-profit activities based on the funds' compliance with the requirements of the investment funds regulations issued by the Capital Market Authority.
The Authority aims to organize, preserve, develop, and grow endowments in a way that fulfills the conditions of its endowment and enhances its role in economic and social development and social solidarity, according to the purposes of Islamic Sharia and regulations.
According to the Authority, its tasks include supervisory supervision of the work of the endowment and taking regular measures to ensure the safety of the endowment.
