Jadwa REIT Al Haramain receives SAR 46.8 mln dividends in Real Estate Investment Fund

Logo of Jadwa REIT Al Haramain Fund

Jadwa Investment Co., as the fund manager of Jadwa REIT Al Haramain Fund, announced that SAR 46.79 million worth of cash dividends, at SAR 9.36 per unit, were received under the Real Estate Investment Fund’s investment exit.

In a statement to Tadawul today, Sept. 27, the company said a capital repayment of SAR 35.87 million was made so as the number of units owned in the Real Estate Investment Fund is reduced to 1.41 million out of five million units.

This is in addition to capital dividend distributions amounting to SAR 10.92 million.

The related financial impact will be positive in general, to be reflected in the fund’s Q4 2023 results. Dividend proceeds will be partially used to repay existing bank facilities obtained by Jadwa REIT Al Haramain.

The fund manager will disclose any developments related to this matter in due course, it added.

In July, Jadwa Investment announced updates on the fund’s investment in the Real Estate Investment Fund that has successfully exited one of its properties, Al-Nakhla Residential Compound, located in Qurtobah district, Riyadh. The property represents over 70% of the Real Estate Investment Fund’s real estate portfolio, at SAR 2.5 billion, according to Argaam's data.