Saudi-based fund manager Jadwa Investments has launched the Al Dar Investment Fund 2.
The closed-end shariah-compliant real estate fund has been developed in partnership with Dar Al Majed Real Estate Company and Arab National Bank.
The fund has a target size of SAR1 billion (US$260 million) and is aiming to build on the success of its predecessor, the Al Dar Investment Fund, which launched in early 2021 with the same target size.
The fund’s strategy is based on acquiring multiple land plots across prime locations in Riyadh and developing these plots into apartment complexes for mid to high-income households.
According to Jadwa Investments managing director and chief executive Tariq Al-Sudairy, the fund offers its clients “the opportunity to invest in the strong fundamentals of the residential real estate sector” in the Saudi market.
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