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Sat 3 Mar 2007 12:00 AM

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Al Futtaim launches fund

Al-Futtaim Capital, the investment and development arm of the UAE's Al-Futtaim Group, has launched a US $500 million real estate development fund.

Al-Futtaim Capital, the investment and development arm of the UAE's Al-Futtaim Group, has launched a US $500 million real estate development fund.

The fund will focus on large-scale urban mixed-use developments in the Middle East and North Africa.

The fund will be managed by Al-Futtaim Investment Management Limited, a DIFC incorporated company wholly owned by Al-Futtaim Capital, and will target cities including Abu Dhabi, Casablanca, Algiers and Cairo, where several potential deals have already been identified.

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