Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

GCC real estate fund raises over $140 million  Join our daily free Newsletter

MENAFN - Arab News - 05/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Pinebridge investments middle east bsc (c) (pbme) a global multi-asset class investment manager with regional headquarters in bahrain covering the middle east north africa and turkey has completed the first close of the pinebridge gcc real estate fund i lp raising over 140 million. the target for the final close is 200 million.

the shariah-compliant fund will invest in income-producing real estate assets in the gulf cooperation council (gcc) countries. the fund offers investors the opportunity to invest in existing properties with established rental revenue and a focus on logistics and warehousing social infrastructure (health care and education) and community retail.

talal al-zain ceo pinebridge investments middle east said: 'there are a wide number of opportunities to invest in specialist real estate assets that generate stable returns and unlock capital for business owners in the gcc. the target sectors — logistics social infrastructure and community retail — are important contributors to the economic growth and development of the region as well as for job creation.

'combining global expertise with extensive experience in investing in the middle east pinebridge is well-placed to source robust investment opportunities tailored to suit sophisticated investors. we have an experienced regional real estate investment team with a proven transactional track record and a sound understanding of assets with strong long-term potential."

due to the growth in demand for social infrastructure and warehousing facilities certain real estate investments in the region continue to offer investors appealing returns.

the fund will utilize these trends by investing in fully-developed income-generating properties with solid long-term leases and quality tenants.

the kingdom allocated 56 billion to education and training in the 2014 budget and 28.8 billion for health care and social affairs.

saudi arabia's k-12 student population is expected to increase from 4.9 million to 5.6 million by 2020. this indicates that private education operators will depart from the traditional owner-occupier model and will move toward partnering with real estate investors.

saudi arabia which comprises over two-thirds of the gcc's population is the region's largest spender on health care and has a genuine need for the development of specialist real estate assets such as polyclinics imaging and diagnostics laboratories and physiotherapy centers. these factors and trends present an attractive opportunity for real estate investors to partner with healthcare providers.

a uae-based school campus operated by gems education ltd. acquired by pinebridge investments middle east late last year in a sale-and-leaseback transaction is the seed asset for the fund.


 


Arab News




  MENA News Headlines
 Oct 26 2014 - Afghan president visits Saudi ArabiaArab News
(MENAFN - Arab News) KABUL: Afghanistan's President Ashraf Ghani Ahmadzai on Saturday made his first overseas trip since taking office fulfilling an election promise to undertake a religious ...

 Oct 26 2014 - Tens of thousands protest Renzi's job measures in RomeArab News
(MENAFN - Arab News) ROME: Tens of thousands of Italians took to the streets of Rome Saturday for a demo organized by Italy's largest trade union to protest Prime Minister Matteo Renzi's plans to ...

 Oct 26 2014 - France announces big coalition air raid against IS in IraqArab News
(MENAFN - Arab News) PARIS: The international coalition currently battling the IS group in Iraq dropped around 70 bombs on an arsenal and militant training center in a large-scale overnight raid the ...

 Oct 26 2014 - UN climate chief hails EU dealArab News
(MENAFN - Arab News) BONN: The UN's climate chief hailed a European agreement on greenhouse gases Friday as providing 'valuable momentum' for a world pact to be inked in Paris next year.The goals set ...

 Oct 26 2014 - Russia still has troops in Ukraine NATO saysArab News
(MENAFN - Arab News) MONS Belgium: Russia still has troops in eastern Ukraine and retains a very capable force on the border despite a partial withdrawal NATO's military commander said on ...

 Oct 26 2014 - Canadians seek to understand Parliament shootingArab News
(MENAFN - Arab News) OTTAWA Ontario: Authorities and ordinary Canadians sifted through confounding shards of a gunman's life seeking to understand what motivated the man to storm the nation's seat of ...

 Oct 26 2014 - BASF warns on profitsArab News
(MENAFN - Arab News) BERLIN: Chemical and oil company BASF is warning that its profits will come in below its previous forecast in the wake of slower global economic growth and industrial ...

 Oct 26 2014 - Saudi- Fawaz Alhokair's net profit rises 7.72Arab News
(MENAFN - Arab News) JEDDAH: Saudi Arabia retailer Fawaz Abdulaziz Alhokair Co. reported a 7.7 percent rise in second-quarter profit as sales increased and it made foreign exchange gains but the ...

 Oct 26 2014 - Saudi- Future of security fire and safety under spotlightArab News
(MENAFN - Arab News) The forthcoming 17th International Conference & Exhibition of Industrial Security is expected to attract more than 5000 commercial and government professionals to discuss the ...

 Oct 26 2014 - Oman: Oil price decline adds pressure to reduce subsidiesArab News
(MENAFN - Arab News) KUWAIT CITY: Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances Minister for Financial Affairs ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help