Logo ofAsool Bakheet Investment Co.
Asool Bakheet Investment Co. announced the launch and operation of Asool Bakheet Ashad Al Hamra Hotel Development Fund, a closed-ended private real estate investment fund with a target investment size of SAR 713 million, including bank financing. 
The company said in a statement to Tadawul that the fund aims to acquire land in Al Khobar and develop it into a luxury hotel project, capitalizing on the promising opportunities in Saudi Arabia’s tourism sector.
As the fund manager, the company expects the fund’s operation to have a positive financial impact in 2026, exceeding 5% of its 2025 revenue.
The impact will stem from arrangement fees to be recognized during 2026, in addition to fund management fees throughout the fund’s five-year term, which may be extended for two additional one-year periods.
Logo ofAsool Bakheet Investment Co.
Asool Bakheet Investment Co. announced the launch and operation of Asool Bakheet Ashad Al Hamra Hotel Development Fund, a closed-ended private real estate investment fund with a target investment size of SAR 713 million, including bank financing.
The company said in a statement to Tadawul that the fund aims to acquire land in Al Khobar and develop it into a luxury hotel project, capitalizing on the promising opportunities in Saudi Arabia’s tourism sector.
As the fund manager, the company expects the fund’s operation to have a positive financial impact in 2026, exceeding 5% of its 2025 revenue.
The impact will stem from arrangement fees to be recognized during 2026, in addition to fund management fees throughout the fund’s five-year term, which may be extended for two additional one-year periods.
