Alkhabeer Capital to launch extensive investment program

Alkhabeer Capital, the Jeddah-based boutique investment and asset management firm, is planning a SR 1.472 billion investment program to be rolled out over the next two years.
The firm intends to raise three funds targeting a total of SR 525 million including, for the first time, a fund targeting investments outside of the MENA region.
In addition, the firm plans to raise SR 125 million for a residential development fund in the UK.
The other two funds scheduled for launch are a SR 150 million residential development fund and a SR 250 million industrial property development fund for "build to suit" situations, both of which are based in Saudi Arabia.
Sherif Selim, director of asset management and head of real estate at Alkhabeer Capital, said: "We are considering more mature markets such as the United States and Europe and are in the process of identifying which markets we will tackle next and how."
Alkhabeer typically invests capital on behalf of Saudi high net worth individuals, family offices and institutions as well as institutions from elsewhere in the Gulf region for which it offers Shariah-compliant vehicles. Historically the firm has also seeded a significant portion of the capital in its funds.
The firm is now fully invested on its previous Saudi Arabia development funds, Alkhabeer Land Development Fund I and Alkhabeer Land Development Fund II, which collected SR 290 million and SR 774 million respectively. Each was a single-asset fund.
While Alkhabeer is now extending its investing horizons, Selim added: "The firm remains bullish about Saudi real estate. We believe that the Kingdom is and will remain the market with the most potential among the other GCC countries for many reasons: Saudi Arabia is the largest country in the GCC with strong business fundamentals and robust economic growth forecasts, which all combined make it a very attractive market place to investors."