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‎First Avenue exits La Perle Fund, ups stake in Al Shati Fund to 81.6%

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October 15, 2026
‎First Avenue exits La Perle Fund, ups stake in Al Shati Fund to 81.6% ‎First Avenue exits La Perle Fund, ups stake in Al Shati Fund to 81.6%

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Logo ofFirst Avenue for Real Estate Development Co.

First Avenue for Real Estate Development Co. signed an agreement with Awj Real Estate Development and Investment Co. to sell all its units in La Perle Real Estate Fund, representing 38.6% of the fund’s total units.
The move comes in exchange for acquiring all of Awj’s units in Al Shati Real Estate Fund, representing 48.9% of its units, in addition to a cash settlement of SAR 6.35 million in favor of First Avenue.

 

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Logo ofFirst Avenue for Real Estate Development Co.

First Avenue for Real Estate Development Co. signed an agreement with Awj Real Estate Development and Investment Co. to sell all its units in La Perle Real Estate Fund, representing 38.6% of the fund’s total units.
The move comes in exchange for acquiring all of Awj’s units in Al Shati Real Estate Fund, representing 48.9% of its units, in addition to a cash settlement of SAR 6.35 million in favor of First Avenue.
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