Dubai investments to start Riyadh Investments Park project early 2018 – CEO

Dubai investments to start Riyadh Investments Park project early 2018 – CEO
Dubai investments to start Riyadh Investments Park project early 2018 – CEO
Dubai Investments DIC -1.50% 1.97 -0.03

By: Amr Adel

Dubai – Mubasher: Dubai Investments is about to complete procedures of Riyadh Investments Park’s project in Saudi Arabia, said the CEO, and managing director, Khalid Bin Kalban, adding that it is expected to start the project in the first quarter of 2018.

Dubai Investment launched SAR 2 billion ($534 million) real estate investment fund (REIT Fund) in collaboration with two Saudi partners, one party provides the land plot for project, and the other two parties will be responsible for funding and management, Bin Kalban added.

نتيجة بحث الصور عن مشروع مجمع الرياض الاستثماري

The firm plans to implement projects in Angola and Kenya in 2018.

Dubai Investments owns 20% stake at a value of $50 million in an investment fund in Ethiopia, and it hopes to collaborate with Bill & Melinda Gates Foundation which is interested in investing in Africa.

Real estate sector

Bin Kalban noted that the real estate sector is still acquiring projects at a value of AED 9 billion, of which AED 4.5 billion are undergoing projects.

The company’s investment in the real estate sector is distributed in Dubai, Abu Dhabi, and Fujairah.

The firm established previously REIT fund to lead an investors’ consortium for acquiring 100% of Kent College Dubai school at a value of AED 370 million, and part of school was sold to individual investors.

نتيجة بحث الصور عن خالد بن كلبان

Al Mal Capital focuses on launching REIT fund with an initial value of AED 1.5 billion in March 2018, and it will rise to AED 3 billion by the end of 2018.

Al Mal Capital is 66.61% subsidiary of Dubai Investments, and the planned fund will be listed on the Dubai Financial Market (DFM).

Dubai Investments will contribute into the fund with real estates at a value of AED 1 billion.

In late October, Dubai Investments approved raising ownership by foreigners, or non-UAE residents, in the firm’s capital to a maximum of 49%, from 35% as a step forward boosting it, particularly after the company’s stock was added to the MSCI Emerging Markets Index.

Dubai Investments to implement two exit deals in 2018

The company plans to implement one exit transaction or two in 2018, but it will be simple exit as it will not exceed AED 50 million.

نتيجة بحث الصور عن دبى للاستثمار+معلومات مباشر

Translated by: Mohamed Hesham Azab

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Source: Mubasher Exclusive

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