(Source: Financial Times)
An investment manager part-owned by the Saudi royal family is planning to invest a chunk of its assets in UK and US commercial property, according to Prince Faisal bin Salman bin Abdulaziz, its chairman.
For Jadwa Investment, commercial real estate was, with natural resources, the most appealing investment opportunity, Prince Faisal told the Financial Times in an interview. The fund is targeting a £700m ($1.1bn) commercial property transaction in the UK in collaboration with European property investor CIT.
Property specialists said only one transaction of that scale was under way: a portfolio being sold by insurance group Aviva, for which CIT is bidding.
Read Patrick Jenkins’s full article “Saudi fund eyes $1bn UK real estate deal” in The Financial Times (July 5, 2009).