SHUAA Capital finalizes sale of Saudi hospitality portfolio for SAR 515M

08/01/2025 Argaam
Logo ofSHUAACapital

Logo of SHUAA Capital

SHUAA Capital completed the sale of its Saudi hospitality asset portfolio, managed by SHUAA Capital Saudi Arabia, a wholly owned subsidiary, to Sumou Holding for SAR 515 million, the company said in a statement.

 

The portfolio comprises three prime hospitality properties strategically located in Riyadh, Jeddah, and Dammam.

 

This divestiture is part of SHUAA Capital's ongoing strategy to enhance investor returns and refine its investment focus, aligning with its long-term objectives of optimizing asset allocation and portfolio management, it added.

 

SHUAA Capital owns a 33% stake in the portfolio, and the transaction is expected to generate a positive impact on SHUAA P&L and Balance Sheet of AED 19.6 million.

 

SHUAA's share of the proceeds will be used to reduce liabilities and strengthen its balance sheet, further positioning the company for future growth and success.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.