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Al-Jada Al-Oula sells units in LaPearl Fund for 131M Riyals
Al Jazarta First Real Estate Development Company announced the complete sale of its units in the "La Pearl Real Estate" Fund, which represent 38.6% of the fund's total units. In exchange, the company acquired all units of "Ouj" Company in the "Al Shati" Fund, accounting for 48.9%, with a cash settlement of 6.345 million SAR. This transaction increases the company's ownership in the Al Shati Fund from 32.7% to approximately 81.6%. It is part of a step to reconsolidate its real estate investments and develop assets with greater future growth opportunities, thereby enhancing capital deployment efficiency and strengthening its financial position. The deal is expected to yield a profit of 3.56 million SAR upon completion. Finishing this transaction will allow the company to redirect its investments toward assets with higher growth potential, especially since the Al Shati Fund's assets include a strategic land parcel and a cash amount of 45 million SAR, which can be developed or invested to boost returns.
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