(MENAFN) Saudi Arabia's Jadwa Investment announced it is planning to invest in domestic real estate as part of its plan to expand its investments to include more sectors,
The group said that it is planning to focus on big assets and target major cities like Riyadh, Mecca, Madina due to the growing demand in real estate development projects in these cities as well as the income that it is being generated by these projects.
"The type of projects are localized but in general, we expect residential to be in focus, along with retail and hospitality," Managing Director and CEO of Jadwa said.
Meanwhile, Jadwa, which had more than USD5.33 billion in assets under management by the end of the July-September period of this year, said that it has acquired both Dubai-based Fajr Capital as well as Jeddah-based waste management firm Global Environmental Management Services earlier this year.
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