Jadwa Investment inks $2.4bn Saudi real estate project deals
RIYADH, 3 days ago
Jadwa Investment, a leading investment management and advisory firm in Middle East, has awarded contracts worth SAR9 billion ($2.4 billion) to address the growing demand for quality residential, commercial and mixed-use spaces in the kingdom.
These agreements were signed with key developers - Real Estate Development Fund (REDF), Dar Al Majed Company, and Zood Real Estate - at Cityscape Global 2024 held last week in Riyadh, said the Saudi group in a statement.
Through these Riyadh-based projects, Jadwa aims to contribute to the capital’s rapid development as a global economic and cultural hub, it added.
Headquartered in Riyadh with three regional offices, Jadwa Investment has over SAR90 billion ($24 billion) in client assets under management and advisement.
Its clients include government entities, local and international institutional investors, leading family offices and high-net-worth individuals.
"Jadwa Investment is proud to play an active role in shaping Saudi Arabia's real estate landscape," remarked its Managing Director and CEO Tariq Al Sudairy.
"Our commitment reflects our confidence in the market’s potential and in our partners’ execution capabilities," he stated.
Haitham Al Ghannam, the Head of Real Estate, said: "Jadwa Investment’s real estate portfolio is expanding rapidly as we continue to execute our strategy of identifying and delivering high-value developments that meet the needs of Saudi Arabia’s dynamic economy and growing population."
"As of October 2024, the firm is managing over SAR20 billion ($5.32 billion) in real estate assets across a range of developments and income-generating funds," stated Al Ghannam.
"Over the past five years, Jadwa launched 36 new real estate development funds with a total value of SAR19.05 billion ($5.06 billion)," he added.-TradeArabia News Service
