23 Oct, 2022
Musharaka Capital is pleased to announce the successful termination and liquidation of La Perla Fund (a private closed-ended real estate investment fund), with a return on investment of 95.59%. At the launch in January 2021, the Fund acquired raw land in Khobar’s Corniche. The land is situated distinctively and strategically in the northern side of Khobar’s Corniche in the Eastern Province, with a total area of 180,000 square meters.
The land site is one of the most important, prominent and vital recreational sites at the heart of Khobar’s New Sea Front, which is considered one of the best tourism and entertainment destinations in the Kingdom situated in the middle of many leading commercial and entertainment projects. This competitive advantage enables the land to become the most in-demand tourist destination.
Commenting on this, Mr. Ibrahim Fahad Alassaf, CEO of Musharaka Capital stated: “We thank Allah and congratulate our Fund investors on this success, where the termination was with exceptional returns in a short period of time. We in Musharaka Capital hope to always fulfill the aspirations of our clients, providing them with unique investment products that help to grow their capital. This success also proves the economic strength of the Kingdom under the wise leadership of our government.
La Perla Fund is aligned with the economic, entertainment, and tourism transformation that the Kingdom's Vision 2030 brings, which contributes to improving the lifestyle and building a society where members enjoy a balanced lifestyle. The land will be developed into a multi-use project with tourism, entertainment, and residential components, to be one of the essential destinations in the Kingdom”.