Sidra Mutajara Fund distributes Q4 dividends

Hani Baothman, vice chairman of Sidra Capital.
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Updated 25 March 2020

Sidra Mutajara Fund distributes Q4 dividends

Sidra Capital has announced the Q4 dividends for its CMA-licensed US dollar Sidra Mutajara Fund, with total returns for 2019 amounting to 6 percent.
“Our $35 million Mutajara Fund invests mainly in trade finance contracts with the goal of generating sustainable, above benchmark returns. Offering higher returns than US deposit rates, which were around 1.25 percent during 2019, it represents an outstanding proposition for investors,” said Hani Baothman, vice chairman of Sidra Capital. “In addition, it provides investors with quarterly distributions and the option of liquidity through the quarterly exit feature.”
Sidra Capital is a CMA-regulated asset manager that specializes in alternative investments. Established in 2009 and headquartered in Saudi Arabia, the company focuses on real estate investment and Shariah-compliant private finance strategies.


Makkah Clock Royal Tower lights up for ‘Home Heroes’

The world’s tallest clock tower beamed the words ‘Home Heroes’ for 30 minutes.
Updated 08 April 2020

Makkah Clock Royal Tower lights up for ‘Home Heroes’

The Makkah Clock Royal Tower, A Fairmont Hotel recently lit up with a solidarity message in support of its staff and medical professionals who are working tirelessly in the wake of the COVID-19 pandemic.
The world’s tallest clock tower beamed the words “Home Heroes” for 30 minutes, for the first time since its opening, in an initiative to honor national heroes for their efforts in protecting the nation from the ongoing coronavirus outbreak.
The campaign was launched by Accor Hotels Makkah — Raffles Makkah Palace, Swissotel Makkah, and Swissotel Al-Maqam Makkah, and the Makkah Clock Royal Tower, A Fairmont Hotel.
This initiative was one of many others launched by the hospitality group in support of the brave medical professionals who are risking their lives to save others during this period as well as to support the Saudi government and its people.
Accor, in collaboration with a hospital in Makkah, delivered complimentary meals to the medical staff working with the group, as a token of gratitude and appreciation. The group also distributed a number of masks and sterilizers to citizens in Makkah, as part of serving the local community and backing the Kingdom’s efforts in maintaining the health and security of citizens and residents.
Faisal Abdallah, director of communications and PR, Accor Hotels, said: “Embracing the solidarity momentum, we launched this initiative, a first-of-its-kind in Makkah by lighting up the Makkah Clock Royal Tower, A Fairmont Hotel with the ‘Home Heroes’ message, empathizing with every member of our community. We support all efforts of the government of Saudi Arabia in wake of the new health crisis and ask the Almighty to protect and preserve the health of the Kingdom’s citizens and residents.”