Jadwa Investment launches new real estate fund in the Middle East

Jadwa Investment, an investment management and advisory firm based in the Middle East, has launched a new closed-end real estate fund in partnership with Liwan Real Estate Company and Riyad Bank.

The fund, dubbed Liwan Investment Fund, is a SAR 312 million ($83 million) vehicle that was opened to develop a mixed-use residential and commercial complex in the Al Mohammadiya district of Riyadh.

The fund appointed Liwan Real Estate Company, a subsidiary of Tatweer Group, as developer and secured SAR 200 million ($53.2 million) in debt financing from Riyadh Bank to finance land acquisition and development.

“We are delighted to partner with Liwan Real Estate Company and to add Liwan Investment Fund to our growing real estate platform,” said Tariq Al-Sudairy, managing director and CEO of Jadwa Investment. “We continue to believe in the strong fundamentals of the Saudi real estate market, and in the growing demand for differentiated residential solutions.”