Jadwa Investment Company, manager of the “Jadwa REIT Saudi,” announced the start date for subscription to the increase in the fund’s total asset value through an additional offering to investors from September 26, 2021, through October 7, 2021 (ten business days).

The company added in a statement on “Tadawul” that the additional units will be offered at a price of 12.978 riyals per unit, noting that subscription will be available through the following receiving entities:

1- Jadwa Investment Company.
2- Banque Saudi Fransi.
3- Riyad Bank.

At their meeting earlier this month, the fund’s unit holders approved increasing the fund’s total assets by 370 million riyals through the offering of additional units, with the aim of acquiring an additional real estate asset and covering related expenses and costs.

Meanwhile, the fund signed an agreement last March to purchase the Riyadh Boulevard complex for 320 million riyals, stating that the purchase would be financed by increasing its total assets by 370 million riyals, by accepting an in-kind contribution from the seller of the new real estate asset in the amount of 120 million riyals, in addition to issuing additional cash units in the fund worth 250 million riyals.

The new property is a commercial and office complex built on a total land area of 18,850 square meters, with a total floor area of 36,340 square meters, located on Prince Turki bin Abdulaziz Al-Awwal Road in the Hatin neighborhood north of Riyadh.