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Al-Dar to launch Saudi operations

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 30 June 2008
SAUDI EXPANSION: Al-Dar Asset Management Co (Adam), the investment arm of Islamic firm Investment Dar, is establishing operations in Saudi Arabia. (AFP)
SAUDI EXPANSION: Al-Dar Asset Management Co (Adam), the investment arm of Islamic firm Investment Dar, is establishing operations in Saudi Arabia. (AFP)

Al-Dar Asset Management Co (Adam), the investment arm of Kuwaiti Islamic firm Investment Dar, is to set up a real estate company in Saudi Arabia with a capital of 300 million riyal ($80 million), an executive said in remarks published on Monday.

Adam is also planning to launch an investment firm in Saudi with a capital of 50 million riyal and is expected to win final regulatory approval for the move this year, said Al-Watan, citing the firm's general manager Abdul Rahman Al-Dawood.

The firm also eyes expansion opportunities in the Gulf region as well as in Europe and the US, the newspaper said.

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