Jeddah · Residential

Jeddah Waterfront Lofts

Boutique waterfront building in Jeddah's Corniche, fully leased to corporate tenants for executive housing.

3 Bedrooms
3 Bathrooms
2 Parking
132 m² Built-up area
Fully leased Waterfront
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Key highlights

  • 3 master leases with leading airlines and logistics groups
  • 100% occupancy with 1 month average downtime
  • Net yield of 7.1% distributed monthly
  • Exit aligned with Jeddah waterfront regeneration timeline
Investment thesis

Stable cash-flows with corporate master leases and strong tourism infrastructure investments.

Documents

Lease schedule
Leases
Insurance summary
Insurance

Timeline

  1. Distribution

    Latest monthly distribution at 0.59% net

    Nov 2024
  2. Stabilized

    Achieved target WAULT of 3.8 years

    May 2024

FAQs

MVP does not support secondary market; expect capital return at strategic exit.
Financial snapshot
Annual gross rent
7,600,000.000
Net operating income
5,410,000.000
Target IRR
13.2%
Target hold period
4 years
Occupancy
100%
Fee summary
Acquisition fee: 1.0%
Management fee: 1.2%
Exit cap rate: 7.4%
SPV information

Mushaa Waterfront SPV 2

Escrow account: NCB Escrow 55291

Risk summary

Exposure to tourism cycles; mitigated with corporate leases.

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Location overview

Corniche Road, Jeddah, Saudi Arabia

Explore the neighbourhood, connectivity, and surrounding amenities.

City & country
Jeddah, Saudi Arabia
Asset type
Residential
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