Jadwa AlBasateen Real Estate Investment Fund
The fund is engaged in developing a prominent residential project on King Khalid Road, north western Riyadh. The project consists of multiple phases with the first phase involves developing the land and 61 residential villas, while the remaining phases will include the development of additional villas, a residential compound, schools, and a commercial center. The fund was launched in February 2016 with five years of fund life cycle.
Jadwa AlAzizia Real Estate Investment Fund
The Fund is engaged in the development of a hospitality project comprising two towers of pilgrim accommodation in Azizia district, Makkah Al Mukaramah. The project will deliver more than 900 rooms that operate during the Hajj and Ramadan seasons capitalizing on the expected growth in pilgrims’ inflow once the Al Masjid Al Haram expansion concludes. The fund was launched in September 2015 with three years of fund life cycle.
Jadwa AlArgan Saudi Residential Development Fund
The Fund is engaged in the development of a middle income residential project comprising 396 residential apartments. Project is located within AlArgan’s Manazel Qurtuba Project which is an integrated housing community that includes retail, education and public facilities. The fund was launched mid-2012, with the Fund life cycle extending to four years.
Jadwa UK Special Opportunities Fund
Jadwa UK Special Opportunities Fund is an English Limited Partnership. The General Partner is incorporated under the laws of England. The Fund has acquired both income generating assets and has successfully traded jointly invested development land. The Fund has recently refinanced the remaining assets in order to initiate further value enhancing strategies. Future performance is dependent upon further strengthening of both regional office and retail sectors and successful implementation of current value enhancing initiatives.
South Bank Tower (formally Kings Reach Tower)
Jadwa purchased South Bank Tower in June 2010 in conjunction with CIT as joint venture partners. The Tower was acquired from receivership at a pricing level reflecting the depressed real estate investment environment. The strategy was to enhance the Tower by re-configuring the office element and re-designing the retail offering. Within 13 months, a significant value enhancing planning permission was granted which included the full utilization of the entire footprint of the ownership and extension of the existing office podium. The design cleverly incorporated all the existing office and retail space within the podium and lower Tower levels. This provided the opportunity to enhance the scheme by adding an additional five stories incorporating 178 apartments (subsequently increased to 194 through additional extension of the Tower by a further five floors). Following the successful conclusion of the planning, Jadwa and CIT in a joint Development Management capacity raised further funds to complete the development. To date, the commercial elements of the property have been forward sold to a “blue chip”, institution and over 80% of apartments have been sold and are handed over