On June 22, 2026, Osool & Bakheet Investment Company announced the launch and 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 land in Al Khobar for developing a luxury hotel project to capitalize on tourism sector opportunities in Saudi Arabia. As fund manager, the company expects the fund's operations to generate a positive financial impact exceeding 5% of its 2025 revenues during 2026, through arrangement fees and management fees over the fund's five-year term with potential for two additional one-year extensions.

Original announcement:

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.