First Avenue Swaps La Perle Units for Al Shati Stake
Jeddah, Saudi Arabia — First Avenue for Real Estate Development Company has agreed to sell its entire 38.6% stake in La Perle Real Estate Fund to Awj Real Estate Development and Investment Company. In return, First Avenue receives Awj’s full 48.9% holding in Al Shati Real Estate Fund, plus a 6.35 million SAR cash payment. […] The post First Avenue Swaps La Perle Units for Al Shati Stake appeared…
Saudi Arabian real estate firm First Avenue for Real Estate Development has completed a strategic shift in its portfolio by exchanging a 38.6% stake in La Perle Real Estate Fund for a 48.9% stake in Al Shati Real Estate Fund, along with a 6.35 million SAR cash payment. The transaction, finalized on October 14, 2026, has increased First Avenue's holding in Al Shati to an estimated 81.6%, up from 32.7% previously.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
