Riyadh – Mubasher: Jadwa Investment, acting as the fund manager for the Jadwa REIT Saudi Fund, has officially notified the Saudi Exchange (Tadawul) regarding an upcoming change in the composition of the fund’s Board of Directors.
The statement confirms the resignation of a non-independent board member, establishing a timeline for the transition and outlining the future leadership structure of the Real Estate Investment Traded Fund.
Nader Hassan Al Amri has resigned from his position as a non-independent member of the Board of Directors for the Jadwa REIT Saudi Fund. The resignation is not immediate, with the fund manager specifying an effective date of 17 June. This advance notification provides a transparent window for the fund to manage its governance transition in accordance with regulatory expectations.
Following the effective date of Al Amri’s departure, the board will be comprised of four members. Ghannam Suleiman Al Ghannam will continue to serve as the Chairman.
The board will also include Nouf Nasser Al Sharif, who serves as a non-independent member. The oversight body is further strengthened by two independent members: Adel Khalid Al Qadi and Waleed bin Abdullah Al Mazyad.
The Board of Directors of a REIT in the Saudi capital market holds significant fiduciary responsibilities. These duties include the supervision of the fund manager’s activities, ensuring that all operations remain in strict compliance with the fund’s terms and conditions, as well as the Real Estate Investment Funds Regulations issued by the Capital Market Authority (CMA). It is also responsible for reviewing the fund’s performance and approving any major strategic shifts or asset acquisitions proposed by the fund manager.
Jadwa REIT Saudi Fund is a prominent investment vehicle on the Tadawul, focused on acquiring and managing a diversified portfolio of income-generating real estate assets across various sectors in the Kingdom of Saudi Arabia.
As the fund manager, Jadwa Investment is tasked with the day-to-day administration and strategic growth of the portfolio, while the board acts as the primary governance layer to ensure transparency and accountability.
