Arbah Capital launched Murcia Real Estate Fund is a Shariah compliant closed ended collective investment vehicle established in the Kingdom of Saudi Arabia under the REIFR, and pursuant to the approval of the CMA dated 15thMay 2010 whose purpose is to develop the Murcia Project which involves the construction of eight (8) residential buildings offering 98 apartment units on previously undeveloped land and their subsequent sale to mid-income end-users seeking such residences. The Fund is seeking to raise up to SAR 39.115 million Saudi Riyals in Capital Contributions from Eligible Subscribers which will be used to, develop the construction of the residential buildings. The Fund will appoint Al-Hakimiyeh Real Estate Development Company LLC to act as the Developer for the Development. The Developer has extensive track record in developing mid-income residential buildings and has successfully executed various developments over the past five years such as Shuqqat High Rise & Andalusiat. The Developer is considered to be the first real estate development company to introduce freehold apartment schemes in the Eastern Province.