Saudi Arabia's Dar Al Majdiah Real Estate Company has entered into a deal with Alistithmar Real Estate Fund 9 to develop two residential towers at the Masar Destination in Makkah. The entire work will be completed within a 30-month period.
SAB Invest has announced the launch of a new open-ended, shariah-compliant public fund designed to provide investors with access to a concentrated portfolio of exceptional global companies expected to benefit from long-term structural growth trends backing Vision 2030's goals.
The Sports Boulevard Foundation has signed contracts with Saudi-based Rikaz Properties to establish the third real estate investment fund with a combined value of more than $186 million that will aim to develop key assets within Urban Wadi in the city of Riyadh.
Saudi-based Asas Makeen Real Estate Development has signed a framework agreement with two key entities - Middle East Financial Investment and Binaa Altharwat Company - to set up a real estate investment fund for the development of prime land owned by the company in Riyadh.
Oman National Investments Development Company (Tanmia) has joined forces with FIM Partners Muscat to set up a new RO96 million ($249 million) fund - Oman Real Estate Development Fund - that will focus on investment opportunities related to real estate projects across the sultanate.
Presidio Investors, a key private equity firm, has announced the sale of US-based ElevATE Semiconductor to Nasdaq-listed Diodes Incorporated for $250 million. Based in California, ElevATE is a leading designer of low-power, high-density integrated circuits for the automated test equipment industry.
Saudi Arabia's Knowledge Economic City has announced that it had signed a non-binding term sheet with Albilad Capital for the establishment of a closed-ended private real estate investment fund worth SAR1.5 billion ($400 million), to finance the first phase of its Multaqa Hospitality project in Madinah.
Leading Saudi developer Umm Al Qura has announced that it has signed reservation agreements with a real estate fund managed by Watheeq Capital for the sale of three land plots within its mega Masar Destination project in Makkah for a total value of SAR441.1 million ($118 million).
First Abu Dhabi Bank (FAB) has sealed a strategic partnership with Water.org, a global non-profit organisation dedicated to expanding access to water and sanitation, and its affiliated impact investment manager, WaterEquity in bid to advance water and sanitation access through market-based financial solutions.
The proposed $300 billion fund being discussed as part of the US-Iran interim peace agreement is intended to serve as a private investment vehicle to help drive economic development and reconstruction in Iran, according to a Reuters report.
