Riyadh – Mubasher: Saudi NCB Capital launched its Pan European Real Estate Fund with a capital of SAR 562.5 million ($150 million), raised through a private placement.
The fund is the result of a partnership with Fidelity International, a leading global asset manager, to invest in commercial properties, including office, retail, logistics/industrial, and mixed use, located in key European property markets, according to a statement published on Monday.
“With the euro and the British pound below their long-term averages, the impact of Brexit on real estate capital values in the UK, and the positive sentiment in the Eurozone, these conditions create a good entry point for our clients to diversify into the European real estate market,” Sarah Jammaz Al Suhaimi, NCB Capital’s CEO, said.
