Dubai: Alkhabeer Capital, an asset manager specialised in alternative investments, launched its Saudi Real Estate Income Fund I, a close-ended private fund that will invest in income-generating residential properties in the Kingdom of Saudi Arabia.
This Shari’ah-compliant Fund was offered by way of private placement in line with the Investment Fund Regulations of the CMA. Its primary objective is to generate returns from the rental income of a portfolio of residential compounds for families and individuals in Riyadh.
“Alkhabeer Capital continuously endeavours to anticipate clients’ needs despite prevailing challenges and market changes. This Fund was launched as part of Alkhabeer’s strategy aimed at providing income-generating real estate investment opportunities,” Commenting on the launch of the Fund, Ahmad Ghouth, CEO of Alkhabeer Capital, said.
“We, at Alkhabeer, are keen to deliver income-generating opportunities with high-profile tenants to contribute to achieving the Fund objectives. The cumulative demand for residential compounds in Riyadh is expected to reach around 48,000 units by the end of 2019. Due to this growing demand, the residential compound sector presents a very strong upside potential over the long term,” Ghouth added.
