{
  "id": 14664296,
  "title": "First Avenue Swaps La Perle Units for Al Shati Stake",
  "url": "https://urgent.news/2026/10/15/first-avenue-swaps-la-perle-units-for-al-shati-stake",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-15T09:22:33.000Z",
  "source": {
    "name": "The Saudi Standard",
    "slug": "the-saudi-standard",
    "url": "https://saudistandard.com/2026/10/15/first-avenue-swaps-la-perle-units-for-al-shati-stake/"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}