Gasco acquires 50% stake in Jaco Gases

Gasco gets half of Jaco

The National Gas and Industrialization Holding Company (Gasco) finalized its 50% acquisition of Jaco Gases for SAR 125 mn, according to a Tadawul disclosure. The transaction was structured as a capital injection intended to double Jaco’s share capital and support its expansion plans.

REFRESHER- Gasco had received the General Authority for Competition’s green light for the move in April, after signing an equity interest purchase agreement in March.

Yet another real estate fund

The Ladun-Al Ayuni consortium will set up a closed-ended real estate fund worth at least SAR 4 bn to develop the infrastructure of Makkah’s Al Khalidiyah informal area, according to a disclosure to Tadawul. The Royal Commission for Makkah City will transfer land ownership to the fund, which will then develop the infrastructure, subdivide the land into plots, and market the project.

ICYMI: The consortium signed SAR 2.4 bn worth of infrastructure contracts with the Royal Commission for Riyadh City this week, building on contract awards in May.

Real estate funds are acting as a powerful growth engine for Saudi asset managers this year, driven by a wave of new vehicle launches. Just this week, Yaqeen Capital and Osool & Bakheet launched two hotel funds, and earlier this year, Arabian Dyar and Al Rajhi Capital launched a SAR 4.5 bn real estate fund for residential and hospitality projects in Makkah and Madinah.