Riyadh – Mubasher: Dallah Healthcare Company inked a contract with Dallah Real Estate, Tatweer Company, and Aljazira Capital Company to establish a private real estate fund with an estimated value exceeding SAR 1.20 billion.
Dallah Healthcare will contribute its owned lands as an investor, alongside Dallah Real Estate, according to a bourse filing.
Meanwhile, Tatweer will join as a cash investor. It will also oversee the execution of the construction development programme.
Aljazira Capital will handle the regulatory procedures for establishing the fund and subsequently manage its operations as a fund manager.
The fun will boost the capital growth for fund investors by owning lands and implementing construction development schemes, including commercial, office, hotel, and healthcare spaces.
The development agreement holds a tenor of six months from the signing date of 1 July 2024.
Last June, Dallah Healthcare and Youssef Marroun Contracting Company penned a joint deal valued at SAR 690 million.
