Darco Real Estate Company, in collaboration with SEDCO Capital and Sahem Financial Platform, has announced a SR485 million project in Jeddah’s Al Shati district. The project, known as the “SEDCO Capital Darco Al Shati Fund,” has received approval from the Capital Market Authority for a private closed offering. This fund will offer SR65 million worth of investment units through Sahem, with a commitment of SR35 million in cash and in-kind contribution from Darco. The project will cover approximately 20,000 square meters over a waterfront area, including 28 buildings with over 500 residential units, 600 parking spaces, and various recreational and sports facilities.
The main objective of the fund is to achieve significant capital gains by selling these units after 30 months to a range of buyers, including direct purchasers, off-plan buyers, and those purchasing through commercial banks. Dr. Omar Al-Qahtani, CEO of Darco Real Estate, believes that this project is strategically designed to meet the highest quality standards and provide luxurious living with unique services near Jeddah’s key tourist spots. The project’s commitment to high-quality living standards within a comprehensive residential complex located near major tourist and entertainment landmarks sets it apart in the market.
SEDCO Capital, a key partner in this project, is a closed joint-stock company owned by SEDCO Holding Group and authorized by the Saudi Capital Market Authority for various investment activities. This partnership further strengthens the project and ensures its success. Dr. Omar Al-Qahtani has emphasized the company’s goal to leverage its expertise as Jeddah’s premier real estate developer to deliver a luxuriously residential experience that meets the needs and expectations of discerning buyers. The project is set to become a landmark development in the Al Shati district of Jeddah.
The project aims to contribute to the growth and development of the Al Shati district and enhance the quality of life for residents in the area. With a focus on luxury living and state-of-the-art facilities, the project is expected to attract buyers who seek a premium residential experience in a prime location. The fund’s strategy of selling units after 30 months allows for potential capital gains and offers a diversified approach to attracting buyers from various segments of the market.
Overall, the collaboration between Darco Real Estate, SEDCO Capital, and Sahem Financial Platform on the “SEDCO Capital Darco Al Shati Fund” signifies a significant investment in the real estate sector in Jeddah. With a focus on meeting high-quality standards, providing luxury living experiences, and leveraging expertise in real estate development, the project is set to redefine residential living in the Al Shati district. This ambitious venture is poised to attract buyers seeking premium properties in one of Jeddah’s most sought-after locations.
