Logo ofSEDCO Capital REIT Fund
Saudi Economic and Development Securities Co. (SEDCO Capital), in its capacity as SEDCO Capital REIT Fund’s manager, signed, on July 27, an agreement to sell Atelier La Vie property in Jeddah for SAR 515 million, excluding real estate transaction tax and any sales-related fees. 
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According to a statement to Tadawul, the buyer paid a non-refundable deposit of SAR 5 million, with the remaining purchase amount to be settled and the ownership transfer completed within 60 business days, extendable by written agreement between both parties.
The fund originally acquired the property in June 2023 for a total amount of SAR 492.5 million. Based on the agreed sale price, the transaction is expected to yield a 4.57% increase in value compared to the acquisition cost.
As of Dec. 31, 2024, the book value of the property stood at SAR 477.51 million, according to the latest audited financial statements. This reflects an anticipated capital gain of nearly 7.85%.
Since the acquisition, the property has generated total rental income of SAR 52.28 million up to Dec. 31, 2024, as reported in the latest audited financials.
The impact of the transaction, if completed, falls within the fund’s broader strategy to enhance its performance and strengthen its financial position. This strategy includes pursuing multiple options that contribute to these goals.
One of the key directions the fund may take is targeting new acquisitions of high-quality, income-generating real estate assets that would add further value to the fund’s property portfolio. In addition, a portion of the sale proceeds may be used to partially repay existing bank facilities, which would help lower the fund’s financing costs.
The company expects the overall impact of this transaction to be positive for the fund’s performance and financial results, assuming the deal is finalized.
The company will announce any future developments in due course.
Logo ofSEDCO Capital REIT Fund
Saudi Economic and Development Securities Co. (SEDCO Capital), in its capacity as SEDCO Capital REIT Fund’s manager, signed, on July 27, an agreement to sell Atelier La Vie property in Jeddah for SAR 515 million, excluding real estate transaction tax and any sales-related fees.
For more news on listed companies
According to a statement to Tadawul, the buyer paid a non-refundable deposit of SAR 5 million, with the remaining purchase amount to be settled and the ownership transfer completed within 60 business days, extendable by written agreement between both parties.
The fund originally acquired the property in June 2023 for a total amount of SAR 492.5 million. Based on the agreed sale price, the transaction is expected to yield a 4.57% increase in value compared to the acquisition cost.
As of Dec. 31, 2024, the book value of the property stood at SAR 477.51 million, according to the latest audited financial statements. This reflects an anticipated capital gain of nearly 7.85%.
Since the acquisition, the property has generated total rental income of SAR 52.28 million up to Dec. 31, 2024, as reported in the latest audited financials.
The impact of the transaction, if completed, falls within the fund’s broader strategy to enhance its performance and strengthen its financial position. This strategy includes pursuing multiple options that contribute to these goals.
One of the key directions the fund may take is targeting new acquisitions of high-quality, income-generating real estate assets that would add further value to the fund’s property portfolio. In addition, a portion of the sale proceeds may be used to partially repay existing bank facilities, which would help lower the fund’s financing costs.
The company expects the overall impact of this transaction to be positive for the fund’s performance and financial results, assuming the deal is finalized.
The company will announce any future developments in due course.
