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  • 21-10-20

    KSA: Jadwa Investment Company renews funds conditions

    (MENAFN) A meeting held on Thursday, October 15th, ended with the Jadwa Investment Company releasing that they will be changing their terms and conditions for Jadwa REIT Al Haramain Fund, on November third, 2020, but are awaiting agreement from the unit owners.

    In accordance with available records, unit owners have agreed on adjusting the percentage of asset portion in Makkah and Madinah to 60 percent of the fund's overall asset worth as an alternative to the 100 percent overall asset worth that was suggested.

    They have also agreed on enlarging the geographical range of the fund's investments to exceed Makkah and Madinah, making the rest of the Kingdom areas part of it, at a limited 40 percent of the fund's overall asset worth.

    They additionally decided on permitting investment in real estate assets, at a limit of 25 percent of the fund's overall asset worth, outside the Kingdom.

    Finally, determining on renewing the fund's other investments conditions, but maintaining the allotment ratio as it is, which is a limit of 25 percent of the fund's overall worth, and added the following: Buy-back and leasehold agreements, Cash and money market funds, and Units in real estate investment funds.

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