CAIRO: Saudi Arabia's Arbah Capital will focus on tourism, education and the health sectors and plans to establish the largest educational city in Riyadh, the company's Chief Executive Officer Mahmood Al-Kooheji said in an interview with CNBC Arabia.
Mr Al-Kooheji, has previously announced that Arbah had acquired an office building in Florida worth $59 million leased to Siemens Energy.
Two new medical complexes will be acquired in Philadelphia, Mr Al-Kooheji said as he also announced that Arbah will launch the University City of Riyadh project, worth SR 4 billion ($1.07 billion) next year. Arbah will also invest in a tourism project worth half a billion riyals that will be launched in the eastern region, with plans to launch similar projects next year in other regions of the Kingdom.
The investment portfolio for Arbah's profits exceeded the barrier of SR3 billion ($0.80 billion)
