SEDCO Capital has signed an agreement to acquire a commercial complex in Jeddah for SAR 492.5 million, enhancing its real estate investment fund's asset portfolio and promising stable income generation.
Information on the Target
SEDCO Capital has made a strategic move to enhance its portfolio by acquiring a developed income-generating asset located in Jeddah. This commercial complex is positioned in the Al Shati District, prominently situated along King Abdulaziz Road. The property spans a total land area of approximately 29,745.70 square meters and boasts a net rental area of 21,000 square meters.
The commercial complex generates an impressive annual income of SAR 39 million and houses diverse tenants across various sectors, including Entertainment, Food and Beverage, and Cinemas. Its prime location and variety of brands make it a key destination in Jeddah, further strengthening the asset's market position.
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Industry Overview in Saudi Arabia
The commercial real estate sector in Saudi Arabia has seen substantial growth, driven by increased urbanization and government initiatives aimed at diversifying the economy
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SEDCO Capital RIET Fund
invested in
Commercial complex in Jeddah
in 2022
in a Other Private Equity deal
Disclosed details
Transaction Size: $132M
Revenue: $10M