December - 2008
Sambacapital announced the launch of more real estate investment projects under its Shariah-compliant Real Estate Fund (SREF), which was launched early in 2007, as the first Real Estate Fund in the Kingdom under the umbrella of the Real Estate Fund Regulations issued by the Capital Market Authority.
Mr. Eisa M. Eisa, Chairman of Sambacapital said, “the area of SREF’s projects has increased during the past period of 2008G by 3,30,000 square meters through development of several strategic locations in Makkah and Jeddah in the Western Region and Riyadh, in the Central Region, bringing the total area of SREF’s projects to approximately 7,500,000 square meters, varying from commercial, industrial and residential projects, which will help realizing the Fund objectives of capital appreciation at medium and long terms”.
Al Eisa gives highlights of the projects, the development and infrastructure of which has already commenced by Omar Qasem Al Eisaei Group along with other parties who supervise the Fund’s execution and management activities.