"Al-Rayes indicated, in a statement to "Arqaam", the positive impact of the deal on the fund's performance in a short period since the launch of its activities, which confirms the extensive experience of the fund manager "Al-Istithmar Capital" with regard to investment in the real estate sector in the Kingdom and the region.

 He added: "The Real Estate Investment Department at Alistithmar Capital is making great efforts in selecting, acquiring, managing and operating real estate assets of high quality, in a way that achieves the greatest possible benefit for unitholders in funds and real estate assets under management.""

The Investment Company for Securities and Brokerage "Al-Istithmar Capital" announced, in its capacity as the Fund's manager, that the real estate known as the "Riyadh Front" owned by the Fund has been exited in its shopping and business areas, where an agreement was signed to assign the rights to lease land (including buildings and facilities on it) in favor of a company. Roshen Real Estate”, for a value that exceeded 2 billion riyals. It is worth noting that the agreement was signed by the “Riyadh Real Estate Front” company as the seller, which is a limited liability company wholly owned by the fund.

Earlier, "Al-Istithmar Capital" announced the success of launching the fund, as a private real estate income-generating fund that is compatible with Islamic law during the year 2021, as the fund aims to provide current income for unit owners and capital development in the medium and long term through the acquisition of income-generating real estate assets in The city of Riyadh, and the fund’s portfolio at that time consisted of three properties located in the city of Riyadh, which are the two shopping and business fronts known as the Riyadh Front, In addition to the property known as "The Logistics Park", which is a high-quality warehouse located on Al-Kharj Road in the city of Riyadh, and accordingly, after the successful exit from the "Riyadh Front", the fund maintains the property "The Logistics Park" as a freehold property with a rental area of ​​more than 280,000 square meters. Which includes a number of tenants from major international and local companies that provide services in the Kingdom and the region.

Source Arqaam