Awqaf Investment inks deals with 5 agencies to recover bad debts, signs SAR 927 mln contracts in 2020

Logo of Awqaf Investment

Awqaf Investment Co., the investment arm of the General Authority for Awqaf (GAA), signed agreements with five cash collection agencies during 2020 to recover outstanding debts, in addition to finalizing the related measures across all branches, Al Eqtisadiah newspaper reported.

In 2020, the company also launched several investment opportunities in the real estate sector, and inked a number of leasing contracts as well as investment partnerships at a total value of SAR 927 million, to boost investment efficiency and aggrandize the realty portfolio returns.

Additionally, the investment firm sealed and renewed 1,082 lease contracts at over SAR 511 million, in addition to renting 223 properties at SAR 206 million.

Awqaf Investment restructured the equity portfolio to generate the target returns, and managed to report realized and unrealized profit at nearly 8% of the asset portfolio, and further joined the board of directors of number of private firms.

Awqaf Investment is developing the investment structure of a number of GAA-run properties, in addition to diversifying the investment portfolio to generate sustainable investment returns, according to Argaam.