SICO Capital successfully exits Al Qasr Real Estate Fund

Logo of SICO

SICO Capital, a Financial Institution majority owned by SICO Bank Bsc (www.sicobank.com) announces the successful exit of “Al Qasr Fund”, representing a Private Closed ended Fund launched during December of 2016. The fund provided unitholders with an annual income by investing in an income-generating real estate portfolio consisting of nine existing residential and commercial properties located in Riyadh, Saudi Arabia.

Mr Sultan Al Nugali, CEO of SICO Capital, stated that “SICO is pleased to exit the Al Qasr Fund at the end of the Fund’s 5 year life as per its Terms & Conditions with total returns that amounted to 56.8% and an exit IRR of 12.4 % and in addition, the effective & smooth manner of exit to current unitholders represents the culmination of a solid Fund Management strategy rolled out over the past 5 years. On behalf of the Management & Board of SICO, we wish to thank all participants of the Fund especially its valued unitholders. This Fund has been an excellent source of income to its Unitholders over the years and represents one of the most successful Real Estate Fund’s managed by SICO since establishment of the firm in 2008/09.

About SICO Capital

SICO Capital Company (sicocapital.com) is a Capital Market Institution regulated by the Saudi Arabian Capital Market authority since 2009, and is specialized in providing a comprehensive suite of financial services for individuals, institutions and companies.

SICO Capital is 72.7% majority owned by SICO BSC (c) (SICObank.com), one of the leading regional investment institutions established in the Kingdom of Bahrain and licensed by the Central Bank of Bahrain. SICO BSC specializes in asset management, brokerage and investment advisory services with assets under management in excess of 4 billion US dollars.