March 28, 2017 / 12:47 PM / 4 months ago

Fidelity launches real estate investment vehicle for Saudi's NCB Capital

1 Min Read

DUBAI (Reuters) - Fund firm Fidelity International said on Tuesday it had partnered with NCB Capital, the investment arm of Saudi Arabia's largest bank National Commercial Bank (1180.SE), to launch a real estate vehicle with a total investment of $300 million.

The pan-European vehicle will target assets across Germany, France, Benelux and Britain. It will provide $150 million of equity which can be increased to invest up to $300 million in total.

The mandate is focused on investments of between $20 million and $60 million in the office, logistics and retail sectors and is Shariah compliant, it said in a statement.

Reporting By Tom Arnold, editing by David Evans

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below