Osool & Bakheet Investment Company announces the launch and commencement of operations of the (Osool & Bakheet Ashad Al Hamra Hotel Development Fund), in its capacity as the Fund Manager

OSOOL AND BAKHEETTadawulJune 22, 2026View on exchange

AI Summary

Osool & Bakheet Investment Company has launched the Osool & Bakheet Ashad Al Hamra Hotel Development Fund, a closed-ended private real estate fund with a target investment size of SAR 713 million.
The fund's objective is to acquire land in Al Khobar for the development of a luxury hotel project over a five-year term, extendable by up to two additional years.
The company anticipates a positive financial impact starting in 2026, with expected arrangement and management fees exceeding 5% of its 2025 revenues.

Element List	Explanation
Announcement Detail	Osool & Bakheet Investment Company announces the commencement of operations of the (Osool & Bakheet Ashaad Al Hamra Hotel Development Fund), a closed-ended private real estate investment fund with a targeted investment size of SAR 713 million (Including bank financing). The Fund aims to acquire a plot of land in Al Khobar for the purpose of developing a luxury hotel project, capitalizing on the promising opportunities in the tourism sector in the Kingdom of Saudi Arabia. In its capacity as the Fund Manager, the Company expects the commencement of the Fund's operations to have a positive financial impact on the Company during 2026, exceeding 5% of the Company's revenues for 2025. This impact is expected to be generated through the recognition of arrangement fees during 2026, in addition to fund management fees throughout the Fund's term of five years, which may be extended for two additional one-year periods.

Element List

Explanation

Announcement Detail

Osool & Bakheet Investment Company announces the commencement of operations of the (Osool & Bakheet Ashaad Al Hamra Hotel Development Fund), a closed-ended private real estate investment fund with a targeted investment size of SAR 713 million (Including bank financing).

The Fund aims to acquire a plot of land in Al Khobar for the purpose of developing a luxury hotel project, capitalizing on the promising opportunities in the tourism sector in the Kingdom of Saudi Arabia.

In its capacity as the Fund Manager, the Company expects the commencement of the Fund's operations to have a positive financial impact on the Company during 2026, exceeding 5% of the Company's revenues for 2025. This impact is expected to be generated through the recognition of arrangement fees during 2026, in addition to fund management fees throughout the Fund's term of five years, which may be extended for two additional one-year periods.