Saudi Arabia's Jadwa Investment is looking at US and UK real estate markets and targeting a deal worth 700 million pounds ($1.14 billion) with European property investor CIT, the Financial Times said on Monday.

The paper quoted Jadwa chairman Prince Faisal bin Salman bin Abdulaziz as saying the firm planned to invest a chunk of its assets in the US and UK commercial property.

The Saudi investment bank wants to co-operate with CIT to target a property portfolio being sold by British insurer Aviva, the paper said. Riyadh-based Jadwa declined to comment when Reuters called.-Reuters