Jadwa Investment, a leading Saudi Arabian investment management and advisory firm, announced Thursday the launch of its latest real estate development fund – Jadwa Al-Basateen Real Estate Investment Fund. This constitutes Jadwa Investment's first real estate fund in 2016 and its fifth since inception. "At Jadwa Investment, we're continually looking for opportunities to innovate and expand our offerings, and to support our clients' long-term goals through a diversified portfolio of investment solutions," commented Tariq Al-Sudairy, managing director and CEO of Jadwa Investment. "With today's announcement of our new Jadwa Al-Basateen Real Estate Investment Fund, we're thrilled to be expanding our real estate investment offerings and, as a result, providing added value to our clients, development partners, and the Saudi economy." KAS Investment, the project developer, went on to state "Partnering with Jadwa Investment will help us achieve all our objectives in the Al-Basateen development, as we aim to create a unique semi-gated community that offers all the required services, and fulfills the needs of all family members. Jadwa Investment was instrumental in facilitating the required financing for the project, and we believe that this project is the beginning of a long-term partnership with Jadwa." The Jadwa Al-Basateen Real Estate Investment Fund will develop a prominent residential project on King Khalid Road, in northwestern Riyadh. The multi-phased business plan will begin with the development of the land and the construction of more than 60 residential villas. Subsequent phases of the project will include expanding the residential segment and developing commercial and educational facilities. The Jadwa Al-Basateen Real Estate Investment Fund raised SAR 500 million in equity and SAR 240 million in debt for the first phase of the project.
