The latest fund launch from Dubai-based asset manager, Ento Capital, is focused on the UK property market.
The Al Rajhi Legacy Fund is a close-ended real estate investment vehicle incorporated in the Dubai International Financial Centre (DIFC) and registered as an exempt fund under Dubai law.
The US$50 million fund is backed by the Saleh Al Rajhi family and plans to acquire and actively manage a diversified portfolio of property assets across Europe and predominantly in the UK.
Ento Capital has traditionally focused on Islamic investment within the Middle East but the firm has identified the UK’s property market as a likely source of growth in 2021.
It cites a forecast from international property agent Savills that UK property prices will increase by 20.4% by 2024.
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