Sidra Capital seals $206m deal for US industrial portfolio

Updated 14 November 2019

Sidra Capital seals $206m deal for US industrial portfolio

Sidra Capital, a GCC-based Shariah-compliant asset manager, has completed its second US industrial real estate acquisition with a deal worth $206 million. The portfolio comprises 30 fully occupied single tenant net-leased assets spread across 15 key states.
The portfolio benefits from a roster of strong mid-market and large companies, which have occupied their respective assets for an average of 27 years. With a weighted average unexpired lease in excess of 13 years, the portfolio is expected to deliver strong and stable cash yield for the investment hold period.
“The outlook for the US industrial real estate market is extremely positive with expectations of being one of the most profitable markets in the country, amid low vacancy rates of under five percent. With the continued integration of logistics and retail, low interest rates, growing demand and evolving trend of manufacturing on-shoring, the US industrial real estate sector will remain resilient and offer opportunities for growth and re-leveraging and enhancing of industrial assets’ value,” said Vice Chairman of Sidra Capital Hani Baothman.
The purchase of this portfolio follows the aggregation of a portfolio of six US student accommodation assets and the acquisition of a site occupied by Sainsburys in the UK earlier this year. These acquisitions have increased Sidra Capital’s total AUM (assets under management) to $2 billion, of which over $800 million is in the US.


AMC launches Saudi Arabia’s first cinema loyalty program

Updated 15 January 2020

AMC launches Saudi Arabia’s first cinema loyalty program

AMC Cinemas has launched the first cinema loyalty program, along with a website and mobile application, in Saudi Arabia, ensuring that all updates and information are available for movie lovers here.

The loyalty program, AMC Da’era, is a first-of-its-kind experience that has been built specifically for the Saudi cinema goer. The app is designed to offer a personalized experience for each guest. With points being earned for every single riyal spent in AMC Cinemas, members keep ascending through each of the tiers by moving from Inner Circle to Select Circle and finally Elite Circle. Alongside each tier, the perks and benefits continue to expand from birthday, anniversary gifts, F&B discounts, free refills, and chances to win tickets to screenings and grand opening events. 

Being a member of AMC Da’era will give users a privilege to be the first to know about any advance tickets and cinema openings via a weekly newsletter.

Users can join AMC Da’era by signing with an AMC account on amccinemas.com or the AMC Cinemas app on iOS.

The new website amccinemas.com is set to be a one-stop digital hub for movie news and schedules in all AMC Cinemas, featuring advanced search tools that allow guests to narrow down their search and select a movie based on the name of the movie or the desired location. The handy booking system allows users to effortlessly purchase and book tickets online and once the transaction is completed, the tickets will be dropped into the visitors’ digital wallet. Moreover, the live chat option provides immediate real time support to help solve any problems and deliver all required information. 

The site also highlights any new food and drinks promotions for customers to benefit from. The new “Remind Me” function will keep cinema lovers always up to date. The website has been designed to be quite similar to amctheaters.com, the most visited entertainment site in the US.

“AMC Cinemas’ mobile application will allow guests to finalize everything in a seamless and speedy way. With a wide range of features that are available in both Arabic and English languages, booking a movie in AMC Cinemas will become a fun and on-the-go process,” a statement said.

AMC currently operates two theaters in Riyadh. According to Adom Aron, CEO of AMC, the company plans to open between eight and 10 theaters by June, between 12 and 20 theaters next year, and 50 theaters in the next three to four years.