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Musharaka Capital announced the successful launch of “La Perla” fund, a private closed-ended real estate investment fund. The fund has also completed the acquisition of the target land, which is 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. This competitive advantage enables the land to become the most in-demand tourists’ destination.
Commenting on this acquisition, Ibrahim Fahad Al-Assaf, CEO of Musharaka Capital, stated: “The acquisition of the land is considered the first phase of our plan, as the company intends to establish various investment products and enter into strategic partnerships to develop the land. The land’s location allows for multiple projects, enabling investors to keep pace with the economic, entertainment and tourism transformations that Vision 2030 brings, which contributes to improving the lifestyle and building a society where members enjoy a balanced lifestyle, by preparing the infrastructure and environment necessary to create new options that enhances the participation of investors in such projects.
Musharaka Capital is licensed by the Capital Market Authority (CMA) (license no. 13169-27) in 2013 to conduct dealing as principle, investment funds management, discretionary portfolio management, arranging, advisory, and securities custody services. Powered by the expertise of a world-class team of investment professionals and aligned with Vision 2030, Musharaka delivers targeted Shariah compliant investment opportunities.
La Perla Fund is a private Shariah compliant, closed-ended real estate investment fund. It was established in accordance with the Investment Funds regulations issued by the board of CMA in Saudi Arabia.
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