Jadwa REIT Saudi Fund Purchases the Boulevard Riyadh for SAR 320 Million

Saudi Arabia-based investment management and advisory firm Jadwa Investment, on behalf of Jadwa Real Estate Investment Trust (REIT) Saudi Fund, has signed a sale and purchase agreement in order to buy The Boulevard Riyadh for SAR 320 million (USD 93.2 million). The Boulevard Riyadh is a luxury retail and office complex located in the north of Riyadh, Saudi Arabia’s capital city. This purchase is to be financed via a SAR 370 million capital increase, consisting of an in-kind contribution from the seller as well as the issuance of additional cash units.

Why it matters?

Jadwa Investment Managing Director and Chief Executive Officer, Tariq Al Sudairy, said that this acquisition and the resulting increase in the value of the Jadwa REIT Saudi Fund&rsq...