SAUDI ARABIA: Dallah Health has signed a non-binding MoU with Aljazira Capital, Dallah Real Estate and Tatweer, another Saudi real estate company, to establish a private real estate fund with an estimated value exceeding SAR1.2 billion (US$319.65 million), to acquire and develop lands.
Dallah Health will contribute its owned lands as an investor in kind, alongside Dallah Real Estate’s contribution of its owned lands as an investor in kind. Tatweer will join as a cash investor and oversee the execution of the construction development program by developing a mix-use project including commercial, office, hotel and healthcare spaces. Aljazira Capital will handle the regulatory procedures for establishing the fund and subsequently manage its operations as a fund manager.
