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Jeddah Municipality

About Jeddah Municipality

Jeddah Municipality is an online portal that provides information regarding the city. It is based in Jeddah, Saudi Arabia.

Headquarters Location

Al-Amanah Street, Al-Baghdadiah Al-Gharbia


Saudi Arabia

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Latest Jeddah Municipality News

Sedco exits real estate fund; nets 41pc returns for investors

Mar 14, 2023

JEDDAH, 6 hours, 3 minutes ago Sedco Capital, a global shariah-compliant and ESG-led asset management and investment advisory firm, said it has successfully exited its capital built-to-suit real estate fund, delivering a 41% net return on invested capital. The Fund commenced operations in mid-2018, acquiring two education- zoned plots - in Jeddah’s Al-Shati District - to develop two educational campuses (on a Built-To-Suit basis) for girls and boys to be operated by Al-Yusr International School Company. Following growing market interest in acquiring the properties, the Fund's board approved its divestment in line with the exit strategy. Sedco Capital said it will subsequently liquidate the fund as planned after completing regulatory, legal, and administrative proceedings. Post liquidation, the Fund is expected to achieve a net internal rate of return (net IRR) of 8.25% and an equity multiple of 1.41x for its investors in the form of dividends and capital gain distribution. The returns are net of fees and expenses. CEO Samer Abu Aker said: “The exit of this special purpose fund extends Sedco Capital’s strong track record of delivery. Our global real estate investment team, which manages approximately one third of Sedco Capital’s total AUMs, identified an attractive opportunity, raised capital alongside the business development team, developed a high-quality real estate asset, and concluded a successful divestment." "In the process, we delivered attractive returns for our investors. We look forward to leveraging our expertise in real estate sub-sectors to launch similar funds in the future,” he stated. "The development of the two educational campuses was conducted in alignment with high standards set by the Ministry of Education, the building regulations of the Jeddah Municipality, built-to-suit real estate best practice, and integrated ESG and LEED principles," he added.-TradeArabia News Service Tags:

Jeddah Municipality Frequently Asked Questions (FAQ)

  • Where is Jeddah Municipality's headquarters?

    Jeddah Municipality's headquarters is located at Al-Amanah Street, Al-Baghdadiah Al-Gharbia, Jeddah.

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