a closed-ended private real estate investment fund that complies with Sharia standards and controls and was established in accordance with the provisions of the Investment Funds Regulations issued by the Capital Market Authority in the Kingdom.
The primary objective of the Fund is to achieve capital growth over the medium term by investing in a mixed-use real estate development project. This is accomplished by acquiring a plot of land in Al Salamah District, Jeddah, developing it into a mixed-use project, then leasing, operating, and/or selling the project to third parties, and eventually liquidating the Fund, all in accordance with the best interests of the unitholders and as detailed in these Terms and Conditions, within a period not exceeding the Fund’s duration.
