“SEDCO Capital” signs a contract to sell the “Al Jazeera Residential” property for 100.75 million riyals
The Saudi Economic and Development Securities Company (SEDCO Capital), in its capacity as manager of the SEDCO Capital REIT Fund, announced the signing of a contract for the sale of the Al Jazeera Residential Complex property in Riyadh, yesterday.
The company noted in a statement on its website "Saudi Arabia trading"By signing a contract to sell the property worth 100.75 million riyals, noting that the Fund had acquired the property in May 2018, according to the following details:
The price of the Fund’s acquisition of the property amounted to 67,465,000 riyals, and thus it is expected to achieve an increase in the sale value by 49% compared to the acquisition price.
The book value of the property was as of June 30, 2025. (According to the latest audited financial statements) the amount of 63,796,213 riyals, which reflects an expected gain of 55%.
The total rental income recorded from the date of acquisition until June 30, 2025 AD (according to the latest audited financial statements) amounted to 53,288,149 riyals.
Based on the above, the total proceeds from investment in the property (sale value plus rental income) amount to about 154 million riyals, equivalent to 228% of the acquisition cost.
According to the statement, this step comes within the fund’s strategy (if completed) to provide multiple options that serve the fund’s performance and financial position, including but not limited to:
Targeting the acquisition of new, high-quality, income-generating real estate assets, which contributes to adding value to the fund’s real estate portfolio.
The possibility of using part of the sale proceeds to partially repay the facilities. The fund manager expected that the impact resulting from this event would have a generally positive impact on the performance and results of the fund, if the deal was completed.
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