Al Fareeda Residential Fund (“ARF”)
ARF is a SAR 550 million closed-end Shariah compliant residential real estate fund which Anfaal Capital, as Fund Manager, launched on 22 November 2012. The Fund acquired a 100% equity stake in Ewaan Alfareeda, which owns the entire economic interest in the Project. The Fund is expected to expire on 21 November 2015, with a one year extension option (if not extended for an additional one year period).
The Project aims to develop and sell approximately 1,750 villas on a 1,099,247 square meter area of land, including infrastructure for about 10,000 residents in a self-contained community; complete with amenities and green areas. It is strategically located in Dahban, about 20 kilometers North of Jeddah; which is considered the city’s natural urban extension