Specialized Medical Company (SMC Healthcare) announces an update on its intention to establish Al Wadi Real Estate Fund

The targeted total fund size is approximately SAR 413 million, comprising equity capital of approximately SAR 163 million (approximately 39.5% of the total fund size) and debt financing of approximately SAR 250 million (around 60.5% of the total fund size).

SMC will contribute its land, with an area of approximately 4,210 square meters, as an in-kind equity contribution valued at approximately SAR 100 million (around 61.3% of the equity capital and approximately 24% of the total fund size) based on an independent third-party fair market valuation. The remaining equity capital of approximately SAR 63 million will be raised in cash from institutional and qualified investors to fund construction and development costs, pre-opening expenses, and contingencies.

The Fund’s primary objective will be to develop a mixed-use project on the contributed land located on Riyadh’s Northern Ring Road.