Dec 10 2011 |
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Saudi Bank AlJazira Unit Sets Up Residential Fund - Report
Saturday, Dec 10, 2011
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Aljazira Capital , or AJC , Saturday opens subscriptions to a closed-end fund which will invest up to 200 million Saudi riyals ($53.35 million) in local residential projects, Saudi-based Al Riyadh daily reported.
AJC , the investment arm of the Saudi shariah-compliant Bank AlJazira (1020.SA), will close subscriptions to the fund on Jan. 23, 2012, the paper added.
Minimum subscription is set at SAR10,000 and the fund will invest in small and medium-sized residential projects, Walid Bin Ghaith, AJC 's general manager for asset management said, according to the daily.
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
(END) Dow Jones Newswires
10-12-11 0842GMT
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