SEDCO Capital has agreed to acquire the Ajdan Entertainment Complex in Al-Khobar City for SAR 164,750,000, aiming to capitalize on the growing entertainment sector in Saudi Arabia.
Target Information
SEDCO Capital has signed an agreement to acquire the Ajdan Entertainment Complex located in Al-Khobar City for a purchase price of SAR 164,750,000. The property, situated on Prince Turki Street, encompasses a total rental space of 5,840 square meters and features several high-profile tenants, including AMC Cinemas and four world-class restaurant showrooms.
The acquisition involves an initial payment of SAR 81,000,000 upon signing the contract, followed by an additional SAR 83,750,000 upon the transfer of ownership. The expected total annual rent from the property is anticipated to reach SAR 12,500,000, contributing to the fund's revenue stream.
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Industry Overview in Saudi Arabia
The entertainment sector in Saudi Arabia has been experiencing rapid growth, particularly since the relaxation of social regulations and the increased focus on enhancing the local economy through tourism.
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SEDCO Capital
invested in
Ajdan Entertainment Complex
in 2022
in a Buyout deal
Disclosed details
Transaction Size: $44M
Revenue: $3M