(MENAFN) Jeddah-based Alkhabeer Capital is set to launch a USD400 million investment fund targeting assets in Saudi Arabia and Europe, Arabian Business reported.
The Sharia-compliant investment firm said it will raise three funds by 2014 targeting a total of USD139.9 million, including USD33.3 million for a residential development fund in the UK.
The other two funds target Saudi Arabia, including a USD39.9 million residential development fund and a USD66.6 million industrial property development fund for "build to suit" situations.
Last year, Saudi government increased its public expenditure, in areas such as housing and infrastructure, to a record USD214 billion, 39 percent more than originally planned, according to the latest research by global property services firm CBRE.
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