News 2007

July 2007


In Four Months Only
Samba's Real Estate Fund Realizes 19.44% since Inception
Al Eisa: the Fund's Record Results Emphasizes Samba's Investment Outlook

Mr. Eisa Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group, announces that Samba's Real Estate Fund has realized 19.44% as return on investment in four months only after its establishment in February 2007. Such record-breaking results, in such a short period of time, reflect Samba's excellent investment outlook and signify the investment insight of the Bank, which was the first bank in the Kingdom to launch a real estate investment fund based on the enabling prospects and potentials of the real estate sector in the Kingdom. The fund is managed by Samba professionals in collaboration with Omar Qasim Al Eisaie Group Company Ltd, a partner who enjoys extensive experience in real estate investment and development, and help in securing the integrated success factors to achieve the intended results".

Al Eisa unveiled the success factors of Samba investment funds, including Samba's keenness on choosing attractive investment areas with wide prospects supported by professional teams.

Examples of this include launching the Real Estate Fund to avail of the economical boom and flourishing real estate sector, Samba Fund for China Opportunities (Izdihar) to avail of the rapid growth of the Chinese economy, Al Musahem GCC Fund to invest in the GCC equities, which was launched in October 2006 and realized 34.1% according to its last evaluation on 27 June 2007, Samba investments relating to Doe Jones Index of communication sector, which has been witnessing a significant growth worldwide for a long period, in addition of other Samba international, GCC and local equity funds.

Samba has previously announced a number of projects under its Real Estate Fund in collaboration with Omar Qasim Al Eisaae Group Company Ltd. in Makkah and Jeddah, with a total area of around 4 million square meters, including residential and commercial developments such as "Rabwat Makkah" Project in an area of around 1 million square meters, which aims at constructing a distinguished and integrated residential plan, in addition to four other projects in Jeddah.

It is worth mentioning that Samba has launched this Shariah compliant real estate fund as the first real estate fund of its kind in the Kingdom under the Real Estate Fund Regulations issued by the Capital Market Authority. The fund aims at growing the savings and investments of its clients on the medium and long run through investing in the fund assets, which principally covers acquiring and developing residential, commercial and industrial lands, acquiring and developing existing buildings, investing in equities of listed real estate companies, and investing in private equities of Saudi Real estate companies before going public.