Riyadh - Decypha: Saudi-based wealth management and investment services firm NCB Capital has launched a $150 million Pan European Real Estate Fund.
NCB has partnered with international asset manager Fidelity International to inject money in commercial properties such as office, retail, industrial and logistics establishments based in France, Germany, Benelux and the UK, a statement from NCB stated.
The Saudi company said that the currency exchange rates and the stable economic climate in European countries have prompted NCB to take such step.
CEO of NCB Capital Sarah Jammaz Al Suhaimi said that lower-than-average Euro and British Pound rates and the anticipated impact of Brexit on the real estate market “created a good entry point for our clients to diversify into the European real estate market.”
Founded in 2007, NCB Capital is a subsidiary of the National Commercial Bank to handle investment banking and asset management in Saudi Arabia.
Bermuda-based Fidelity International was founded in 1969 to handle investments for clients in Europe, EMEA and Asia
By Decypha Editorial Team
