a closed-ended private real estate investment fund that complies with Sharia standards and controls and was established in accordance with the provisions of the Investment Funds Regulations issued by the Capital Market Authority in the Kingdom
The main objective of the Fund is to achieve capital gains for the investment unit holders during the Fund’s term, by investing in acquiring residential land in the Al-Shatea neighborhood in Jeddah, then developing and building residential complexes with an estimated number of 508 luxury apartments, and then selling these units during the Fund’s term through off-plan sales after obtaining a sufficient license. Some units can be sold directly or through marketers or through public auctions or otherwise.
