\u201c \u201dSADCO Capital,\u201d a leading Saudi real estate asset management company, announced the start of the public offering of units in the SADCO Capital REIT, effective from 8 Jumada al-Awwal 1439 AH, corresponding to January 24, (January) 2018, through 21 Jumada al-Awwal 1439 AH, corresponding to February 6, 2018. This follows the Capital Market Authority\u2019s approval on December 4 (December) 2017, to offer its units for public subscription. Investors can acquire real estate holdings that are diverse in terms of sector and geography starting at just 500 riyals, with the aim of generating promising periodic returns through subscription to the SEDCO Capital REIT.<\/p>\n
Hassan Al-Jabri, CEO of SEDCO Capital, explained that the offering comes in line with the promising figures in the Kingdom\u2019s 2018 budget and the level of development spending, which exceeded expectations, and to meet the broad and growing demand for income-generating real estate products. He noted that the population, with its predominantly young demographic and strong economic capacity, consistently shows strong interest in the real estate sector, whether for residential purposes or investment, He noted that the SEDCO Capital REIT portfolio comprises seven properties that are diverse in terms of their geographic distribution and tenant base\u2014which includes both government and private-sector tenants\u2014with an occupancy rate exceeding 92 percent.<\/p>\n
Al-Jabri added that the target net return for the next three years is 7 percent, to be achieved through the acquisition of additional assets using a combination of equity and debt financing, especially since the annual returns on the current real estate portfolio stand at approximately 6.1 percent per year before financing, which is a record in this sector. At least 90 percent of the fund\u2019s net profits will be distributed to unit holders, in addition to capital gains resulting from the sale of real estate assets should suitable opportunities arise, allowing the fund to reinvest these proceeds in additional assets in the best interests of unit holders.
\nAl-Jabri said: \u201cThe launch of this fund comes at a time when the Saudi market is witnessing promising opportunities, given the optimistic outlook for the results of implementing economic reforms under \u201cVision 2030,\u201d which aims to enhance economic efficiency and foster social development in a manner that fulfills the wise leadership\u2019s aspirations for well-planned and organized urban prosperity. This step seeks to align with strategic plans aimed at diversifying the economy and developing its mechanisms, with the local real estate sector serving as one of the key pillars.\u201c Al-Jabri added: \u201dThe assets of the SEDCO Capital REIT have been managed by SEDCO Capital for six years by a team of consultants specializing in real estate management, who will also continue to manage and oversee the fund during and after the subscription process.\u201d.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>SEDCO Capital, a leading Saudi real estate asset management company, has announced the commencement of the public offering of units of the SEDCO Capital Real Estate REIT (REIT) from Jumada I 8, 1439H (January 24, 2018) until Jumada I 21, 1439H (February 6, 2018), following the approval of the Capital Market Authority (CMA) on the fourth ... 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