Alkhabeer launches US$400m fund, targets KSA, UK

Alkhabeer Capital, a Saudi Arabian Shariah-compliant investment company, will launch a US$400m investment fund targeting assets in Saudi Arabia and Europe.

Alkhabeer Capital, a Saudi Arabian Shariah-compliant investment company, will launch a US$400m investment fund targeting assets in Saudi Arabia and Europe.

Alkhabeer Capital, a Saudi Arabian Shariah-compliant investment company, will launch a SAR1.5bn (US$400m) investment fund targeting assets in Saudi Arabia and Europe, the firm said in a statement.  

The Jeddah-based firm will raise three funds over two years targeting a total of SAR525m, including SAR125m for a residential development fund in the UK.

“We are considering more mature markets such as the US and Europe and we are in the process of identifying which markets we will tackle next and how,” Sherif Selim, director of asset management and head of real estate at Alkhabeer Capital, said in a statement.

The other two funds include a SAR150m residential development fund and a SAR250m industrial property development fund for “build to suit” situations, both of which are based in Saudi Arabia.

“The firm remains bullish about Saudi Arabian real estate. We believe that Saudi is and will remain the market with the most potential amongst the other GCC countries for many reasons: Saudi Arabia is the largest country in the GCC with strong business fundamentals and robust economic growth forecasts, which all combined make it a very attractive market place to investors,” said Selim.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Statistics fog raises risk as cheap oil hits Gulf

Statistics fog raises risk as cheap oil hits Gulf

Sharp revision of economic data in Saudi Arabia suggests its...

Why banking in the Gulf will never be the same again

Why banking in the Gulf will never be the same again

New technologies are emerging in banking and finance at a rapid...

Most Discussed
sponsoredTracking