Two Saudi Arabian firms have partnered for the launch of an investment fund focused on indirect financing.
Tamweel AlOula signed a partnership agreement with Riyad Capital to launch the fund.
According to a statement, the fund will aim to invest in the financing business and purchase contractual assets for the company’s clients.
The move is also part of Tamweel AlOula’s strategy to diversify its partnerships with regulated Saudi financial institutions.
Riyad Capital’s real estate investment trust, Riyad Reit, has also invested $62 million in a US property portfolio containing five commercial properties.
©2022 funds global mena