Jadwa REIT Saudi gets SAR 421.1 mln cash distributions in Real Estate Investment Fund

27/09/2023 Argaam
Logo ofJadwa REIT Saudi Fund

Logo of Jadwa REIT Saudi Fund

Jadwa Investment Co., the fund manager of Jadwa REIT Saudi Fund, announced a total cash distributions per unit of SAR 9.36, totaling SAR 421.13 million, were received in Real Estate Investment Fund.

 

The amount included SAR 322.87 million capital repayment. Accordingly, the number of Jadwa Saudi REIT’s remaining units in the Real Estate Investment Fund reached 12.71 million out of 45 million units.

 

This is in addition to SAR 98.26 million capital gain distributions, the fund manager said in a statement on Tadawul.

 

A positive financial impact is expected to be reflected on the fund’s financial performance in Q4 2023, the statement added.

 

A portion of the distribution proceeds will be utilized to repay outstanding bank facilities owed by Jadwa REIT Saudi, the fund manager added, indicating that it will disclose any developments in this regard.

 

In July, Jadwa Investment Co. said the Real Estate Investment Fund successfully exited Al-Nakhla Residential Compound, located in Qurtobah district, Riyadh.

 

The property represented more than 70% of the fund’s real estate portfolio, or SAR 2.5 billion, Argaam reported.

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