News

Shuaa Capital to launch REIT fund

UAE-based investment bank Shuaa Capital is looking to launch a real estate investment fund (REIT) in Saudi Arabia before the year-end, according to its chief executive Fawad Tariq Khan. The fund will be listed on the Saudi stock exchange and will be launched in conjunction with Saudi-based Jabal Omar Development Company. It will be the first fund launched by Shuaaa Capital since it announced its intention to seek an investment management licence from the Dubai market regulator. In a statement made to the Dubai Financial Market on 19 August, the bank stated that it wants to engage in “investment management, promotion and introduction and managing initial public offerings business after being licensed from the Securities and Commodities Authority”. Shuaa Capital is also planning to issue its first dividend in a decade after it posted a 21% year-on-year increase in second quarter net income which it attributed to growth in its Saudi and Egypt operations. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.