Musharaka Capital Signs Two Agreements to Establish a Real Estate Fund Valued at 1.45 Billion

Musharaka Capital announced the signing of an agreement with Jabal Omar Development Company to acquire a plot of land within the fifth phase of the Jabal Omar Project in Makkah, as well as another agreement with Ladun Investment Company aimed at establishing a real estate development fund.

According to the company’s statement, the fund aims to acquire a 3,881-square-meter plot of land located in the central area of Makkah from Jabal Omar Development Company for a value of 659.87 million, excluding VAT and brokerage fees. The project will then proceed with the development and construction of a residential and hospitality tower, along with its associated services, within the Jabal Omar Project.

Mr. Ibrahim Al-Assaf, Managing Director and Chief Executive Officer of Musharaka Capital, added:
“These agreements come as part of Musharaka Capital’s strategy to provide diversified investment opportunities. Today, we are offering our clients a distinguished opportunity in the central area of Makkah, just steps away from Al-Masjid Al-Haram. We firmly believe that real estate in Makkah in general, and in the central area in particular, represents some of the most exceptional real estate assets globally. Musharaka Capital aims to contribute to the development of vital projects that support the national economy, enhance investment opportunities in the Kingdom, and contribute to the objectives of Saudi Vision 2030, particularly those related to serving pilgrims and visitors to the Two Holy Mosques”