Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Alahli SEDCO Residential Development Fund launched  Join our daily free Newsletter

MENAFN - Arab News - 07/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN -Arab News) NCB Capital has joined hands with Jeddah-based SEDCO Development Company to launch the AlAhli SEDCO Residential Development Fund, a public close-end Shariah-compliant investment opportunityThe fund provides investors with capital growth by purchasing land plots in Jeddah for development, construction and sale of residential apartments targeting the middle income segment of the population. Minimum subscription is SR50,000 and the fund aims to have an internal rate of return of 10 percent per year.Tariq Linjawi, acting CEO and head of wealth management at NCB Capital, said: "Combining NCB Capital's success in launching and managing real estate funds with SEDCO Development's expertise as one of the most successful real estate developers in the region, the new fund has been created to address the shortage of reasonably affordable residential accommodation for middle and upper income home buyers.Jeddah's residential market-wide gap is estimated to be 21,000 units per year.SEDCO Development has been appointed as the developer of the AlAhli SEDCO Residential Development Fund, responsible for managing and conducting the development.Khalid Jamjoom, CEO of SEDCO Development, stated: "The merging of two major players in the local market provides investors a unique opportunity to participate in a quality product that meets the strong demand for this type of residential property in Jeddah."Anees Moumina, CEO of SEDCO Holding Group, said: "We are excited about this collaboration between NCB Capital and SEDCO Development and believe that AlAhli SEDCO Residential Development Fund will have a role in supporting the Real Estate Sector in Saudi Arabia."Real estate financing is expected to increase by 60 percent during 2014-2019 to SR210 billion and the introduction of the Mortgage Law is expected to further drive demand

 


Arab News




  MENA News Headlines
 May 6 2015 - Austria's RP Global to build USD1.5b projects in DubaiMENAFN
(MENAFN) RP Global, subordinate of the RP Group of Companies headquarter in Vienna, is ready to invest USD1.5 billion on building two projects in Dubai, Arabian Business reported.Among the projects ...

 May 6 2015 - UAE non-oil trade hits USD291.38b in 2014MENAFN
(MENAFN) The non-oil trade sector if the United Arab Emirates recorded a total of USD291.38 billion in 2014, marking a slight 1 percent limp year-on-year, Kuwait News Agency reported.The data are ...

 May 6 2015 - Syrian armed groups invited to Geneva talksThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Renewed UN-led efforts to revive peace talks in Syria are getting under way in Geneva. More than 40 Syrian groups including Syrian opposition armed groups ...

 May 6 2015 - Senegal to contribute troops to Saudi-led Yemen campaignThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Senegal will dispatch 2,100 troops to participate in a Saudi-led offensive in Yemen, Senegalese Foreign Minister Mankeur Ndiaye told parliament on Monday.The ...

 May 6 2015 - US- Kerry announces aid, support for Somali refugees in KenyaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) US Secretary of State John Kerry on Monday pledged to step up assistance to Somali refugees in Kenya, saying that a major refugee camp in northern Kenya would ...

 May 6 2015 - Palestine- Gaza security forces arrest 'pro-Daesh' salafistsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Hamas-led security forces in the Gaza Strip carried out an overnight arrest campaign targeting salafists who have voiced support for the Daesh militant group, ...

 May 6 2015 - Germany destroys Syria's toxic chemicalsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Germany has destroyed 370 tons of Syria's chemical weapons, the country's Foreign Ministry announced late on Monday."A remarkable international collaboration ...

 May 6 2015 - Uzbek official who played role in Karimova case charged with corruptionThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Uzbek official responsible for confiscating the assets of disgraced presidential daughter Gulnara Karimova has been charged with corruption and abuse of ...

 May 6 2015 - Iraq- Six killed in Baghdad car bombingThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Police say a car bomb near the Baghdad headquarters of a Shi'ite militia fighting the Islamic State jihadist group in Iraq killed at least six civilians May ...

 May 6 2015 - Croatia struggling to exit recession, commissionThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Latest European Commission prognosis says Croatia's economy is slowly exiting recession after six years - still battling a large budget deficit and a debt ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help