SEDCO Capital acquires properties worth SAR 473 million in Riyadh, Dammam

SEDCO Capital, a licensed Saudi asset management firm, has acquired seven real estate assets for SEDCO Capital Real Estate Income Fund II (SCREIF II), bolstering the firm's realty portfolio in Saudi Arabia.

SCREIF II is a Shariah-compliant investment fund based in Saudi Arabia. SEDCO Capital has acquired seven properties n Riyadh and Dammam since 2014, worth a collective SAR 473 million. Some of the properties are shopping plazas and retail outlets.

"SEDCO Capital has acquired two different types of properties being retail and education for SCREIF II that met our criteria of being stable, defensive, well located and income-producing," Sherif Selim, head of MENA Real Estate at SEDCO Capital, said. "We have a healthy pipeline of assets that are either defensive by nature or structured defensively and we look forward to the deals we will close in the last three months of the year."

Selim also said the SEDCO team is actively seeking new investment opportunities. 

"We have identified the Saudi real estate market in particular, as an attractive asset class for investors and our dedicated team offers funds, separate accounts and syndicated transactions across the full spectrum of real estate strategies," he said.

For more information about SEDCO, visit www.sedcocapital.com.