Saudi manager launches real estate fund

Riyadh-based fund manager Jadwa Investment has partnered with local property developer Liwan Real Estate and Riyad Bank to launch the Liwan Investment Fund.

The US$83.14 million investment vehicle is a closed-end sharia-compliant property fund that is designed to finance the development of a mixed-use residential and commercial complex in the Riyadh district of Al Mohammadiya.

Jadwa has launched a number of funds in recent weeks, including two sharia-compliant funds aimed at the non-profit sector.

It has also been growing its real estate portfolio and is now managing real estate assets worth more than $3.36 billion.

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