Swicorp Launches the “Swicorp Bawabat Makkah Real Estate Development Fund”
Swicorp has launched “Swicorp Bawabat Makkah Real Estate Development Fund”, a Public, Closed-ended, Real Estate Investment Fund, Sharia’h compliant and approved by the Capital Market Authority of Saudi Arabia by order No. D/3/5/248/17 dated 26/4/1438 H.
The Fund is managed by Swicorp and aims to realize medium-term appreciation in the investors’ subscription amounts.
The Fund aims to develop a strategic piece of land located in the Western Suburb of Makkah (Bawabat Makkah) next to the Qura’an Monument on Makah-Jeddah Expressway, which measures around 1.7 million sqm and sell the resulting serviced residential and commercial land plots, in line with Makkah’s accelerating expansion.
At the end of the Fund’s Period, the Fund Manager aims to make cash distributions to the investors from the Fund’s Net Available Cash (i.e. the serviced land plots sales proceeds after deducting all of the Fund’s expenses and liabilities including repayment of any debt received by the Fund) according to the Fund’s Terms and Conditions.
Total Targeted Amounts (Subscription amounts and Shari’ah compliant financing)
SAR 1,353,000,000 (Saudi Riyals One Billion and Three Hundred and Fifty Three Million)
Minimum subscription Amount
SAR 50,000 (Saudi Riyals Fifty Thousand) Per Investor
Fund subscriptions are accepted from Saudi nationals as well as Saudi companies and investment funds through Swicorp (Fund Manager) or defined branches of Arab National Bank (Receiving Bank).
For more information about Swicorp Bawabat Makkah Real Estate Development Fund, please visit the Fund’s website www.swicorp-bmf.com
- Account Opening Form For Individuals
- Account Opening Form For Institutions
- Subscription Form
- Terms & Conditions