Sunday 12 June 2011

Dubai's Abraaj mulls property fund hike to $250 mln - Maktoob News

Dubai-based Abraaj Capital is looking to more-than-double a regional real estate fund to $250 million this year and is eyeing investments in Saudi Arabia's construction sector, its Principal said on Saturday.

The first close of the fund, ASAS, which invests in income generating property in the Middle East and North Africa, was in December 2010, Faisal Khan told Reuters on the sidelines of a conference in Jeddah.

"The first close was $100 million. We are hoping to take it up to $250 million. Some of those investments will be in Saudi Arabia ... We have a few deals in the pipeline which we are working on," Khan said.

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