Darco Real Estate Company Announces SR485 Million Project in Al Shati District of Jeddah
In an exciting collaboration with SEDCO Capital and Sahem Financial Platform, Darco Real Estate Company has unveiled a groundbreaking project in the Al Shati district of Jeddah. The Capital Market Authority has approved the “SEDCO Capital Darco Al Shati Fund” as a private closed offering, set to offer SR65 million worth of investment units through Sahem. Darco has committed SR35 million in in-kind and cash contributions to kickstart this ambitious venture.
The project will cover an impressive 20,000 square meters of prime waterfront real estate in Jeddah. It will boast 28 buildings housing over 500 residential units, along with 600 parking spaces and a range of recreational and sports facilities.
The main goal of the fund is to achieve significant capital gains by selling these units within 30 months to a diverse range of buyers, including direct purchasers, off-plan investors, and those securing financing through commercial banks.
Dr. Omar Al-Qahtani, CEO of Darco Real Estate, envisions this project as a strategic development that sets new standards for quality living. He emphasizes the luxurious lifestyle and unique services that will be offered in close proximity to Jeddah’s top tourist attractions.
Dr. Omar Al-Qahtani is committed to ensuring high-quality living standards within a comprehensive residential complex strategically located near major tourist and entertainment destinations. He also aims to leverage Darco’s expertise as Jeddah’s premier real estate developer to deliver an unparalleled residential experience.
SEDCO Capital, a vital partner in this venture, is a closed joint-stock company owned by SEDCO Holding Group. Authorized by the Saudi Capital Market Authority for various investment activities, SEDCO Capital’s involvement further enhances the project’s potential for success.
