SEDCO Capital has acquired a fully leased property occupied by Banque Saudi Fransi in Dammam for SR 27.25 million, reflecting its strategy to enhance returns on real estate assets.
Target Information
Saudi Economic and Development Securities Company (SEDCO Capital), acting as the manager of SEDCO Capital REIT Fund, has successfully completed the acquisition of a property currently occupied by the Banque Saudi Fransi-Al Andalus branch. The property was acquired for a total of SR 27.25 million and is situated on Imam Ali Bin Abi Talib Street in the Al Rayan neighborhood of Dammam, Kingdom of Saudi Arabia.
This property is leased in its entirety to Banque Saudi Fransi, which operates independently from the property owner. The lease agreement, established in November 2015, guarantees an annual rental income of SAR 1,500,000, secured for a duration of 10 years.
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Industry Overview
The real estate market in Saudi Arabia has experienced significant growth in recent years, driven by government initiatives aimed at ensuring economic diversification and urban
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SEDCO Capital
invested in
Banque Saudi Fransi-Al Andalus branch
in 2015
in a Other Private Equity deal
Disclosed details
Transaction Size: $7M