What we do
SHUAA Capital Saudi Arabia (SCSA) csjc acts as a fund manager, investment manager and custodian for a number of funds, primarily focusing on the real estate and hospitality sectors. The business focuses on acquiring and developing prime land and real estate in areas with strong long-term growth prospects and supply-constrained market dynamics.
The SHUAA Saudi Hospitality Fund I is a Shariah-compliant, close-ended real estate investment fund launched by SCSA in August 2008 and established in partnership with Rotana Hotel Management Company. The committed capital for the SHUAA Saudi Hospitality Fund I is SR 535 million. SHUAA Saudi Hospitality Fund I owns interest in the following hotel properties either directly or through SCSA managed sub-funds:
- Jeddah Centro project which will be a 4-star hotel in Jeddah under the Centro by Rotana brand, and is owned by the Jeddah Centro Fund I. The committed capital for the fund is SR 80 million.
- Dammam Rayhaan project which will be a 5-star hotel in Dammam under the Rayhaan by Rotana brand, and is owned by the Dammam Rayhaan Fund I. The committed capital for the fund is SR 125 million.
- Riyadh Centro project which will be a 4 star hotel in Riyadh under the Centro by Rotana brand, and is owned by the SHUAA Saudi Hospitality Fund I. The capital allocated to this project by the Fund is SR 117.6 million
The GCC Property Fund is a SR 175 million fund managed by SCSA with the principal investment objective to provide investors with current income, dividend distributions and capital growth over the medium and long term by acquiring interests in real estate developers and other related companies in the GCC, with a particular focus on Saudi Arabia.
SHUAA Capital Saudi Arabia is currently developing 2 funds of around SR 1.5 billion each. The first fund will focus on the development of a residential compound in Wadi Hanifa, Riyadh on a unique plot of around 215,000 square meters while the second will focus on the development of 1.6 million square meters of raw land in the Qirawan area in Riyadh.
Custody and Placement Agency Services
SCSA also provides custodian services to third party managed funds, as well as acts as placement agent for a number of foreign funds wishing to access the Saudi market.
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