SEDCO Capital’s second real estate income fund acquires new properties

SEDCO CAPITAL
Updated 09 October 2016
0

SEDCO Capital’s second real estate income fund acquires new properties

SEDCO Capital, a major Saudi licensed asset manager, announced the acquisition of seven real estate assets over the past 19 months on behalf of SEDCO Capital Real Estate Income Fund II (SCREIF II), bolstering the firm’s realty portfolio in Saudi Arabia. SEDCO Capital Real Estate Income Fund II is a Shariah-compliant, close-ended investment fund established in the Kingdom under Article 4-B-4 of the Investment Funds Regulations and managed by SEDCO Capital as fund manager.
The fund’s objective is to invest in high quality income generating real estate assets in the main cities of the Kingdom. The main purpose of investment of the fund is to provide investors with a cash income with the possibility of a capital increase by investing in real estate assets in Saudi Arabia.
SEDCO Capital, on behalf of SEDCO Capital’s Real Estate Income Fund II, acquired seven properties since its inception in November 2014.
, which included an anchored standalone Hyper Panda retail in Dammam as well as the adjacent land used for parking, Olya School in Riyadh, Dar Al Baraa School in Riyadh, an anchored standalone Extra Store in Dammam, Alhamra Plaza retail strip outlet in Riyadh and Irgah Plaza retail strip outlet in Riyadh.
The acquisitions collectively total SR473 million in purchase price for approximately 88,000 sqm of built up area across Riyadh and Dammam.
Hasan Al-Jabri, CEO of SEDCO Capital, said: “As our total assets under management reach the $5.2 billion mark, it is a testament to the confidence our clients have placed in our team and our approach.”
Sherif Selim, head of MENA real estate at SEDCO Capital, said: “We have identified the Saudi real estate market in particular, as an attractive asset class for investors and our dedicated team offers funds, separate accounts and syndicated transactions across the full spectrum of real estate strategies.”


ICD & We-Fi empower women entrepreneurs

Updated 18 September 2019

ICD & We-Fi empower women entrepreneurs

With the aim of discussing how the Islamic Corporation for the Development of the Private Sector (ICD) and the Women Entrepreneurs Finance Initiative (We-Fi) can expand their relationship and integrate the gender themes into ICD’s operations and businesses, a meeting was held between Ayman Amin Sejiny, CEO of ICD; Wendy Teleki, head of We-Fi secretariat; and Samir Suleymanov, director strategic initiatives, World Bank, at ICD’s premises in Jeddah recently. The parties discussed the development and promotion of women’s entrepreneurship through innovative sustainable solutions to increase women’s access to economic opportunities in developing countries. 

Teleki highlighted the main objectives of We-Fi, which is to support women entrepreneurs around the world through programs that provide financing, capacity building and also promote enabling environments that allow women to become entrepreneurs and grow their businesses. We-Fi uses an ecosystem approach to develop programs at the country level that will break down barriers and create more opportunities for women.

During the meeting, Ayman said: “ICD and We-Fi are working together to enhance their initiatives and mandates in supporting the female society in all ICD’s member countries. We want to ensure that our lines of finance and our relationship with the 102 directly connected financial institutions we are dealing with will further enhance the funding, training to women entrepreneurs and to provide the required necessary support to women in all our member countries.”

Teleki said that We-Fi has six implementing partners (IP) and the Islamic Development Bank (IsDB) is one of them. “IsDB, along with ICD is supporting women entrepreneurs in fragile countries. In Yemen, they have a very interesting ongoing program named BRAVE Women. They target to train up to 500 women to learn to develop business plans in fragile and high-risk contexts and up to 400 of them will get access to funding on a matching grant basis. This program aims also to develop the relationship between those women entrepreneurs with the local banks and also lead companies to make sure those women have access to finance and markets to grow their businesses. Moreover, the IsDB and ICD will be implementing soon this BRAVE Women program in two other countries to improve the women’s entrepreneurship potential in key economic sectors and we look forward to seeing those programs happening in future,” she said.

We-Fi is a global platform that seeks to support over a 100,000 women around the world in the next five years and mobilize at least $2 billion from the public and private sector for further activities.