Abraaj eyes new opportunities in Saudi

Dubai-based private equity group Abraaj Capital on Sunday announced the opening of its first Saudi office and said it sees “immense” investment opportunities in the kingdom.

The Riyadh office will have a team of eight, led by Sari Anabtawi, an executive director of the firm, and will work to identify new investment opportunities as well as work with existing Abraaj partner-companies to grow their business in Saudi Arabia and the region.

“The opportunities to invest in Saudi Arabia are immense given the kingdom's position in the MENA region and its relative insulation from the global economic downturn,” chief executive Arif Naqvi said.

“Whether in transportation, logistics, food, healthcare or education, demand is growing and under-served in terms of existing supply, driven by population expansion and fresh government policies that encourage private investment.”

The office is Abraaj’s fourth outside the UAE as the company expands across its investment region, which covers the Middle East, North Africa and South Asia.

Through its funds, Abraaj holds stakes in more than 25 companies in the region, including Tadawi, Saudi Arabia’s largest pharmaceutical wholesaler and retailer; Air Arabia, the Middle East’s largest low-cost carrier; and Al Borg Laboratory, the Middle East’s biggest medical-testing laboratory company.

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