, a prominent Saudi-based asset management company, has announced that it has successfully exited “Alkhabeer Land Development Fund II”, achieving 44.6 per cent in net cumulative returns to its investors.
Headquartered in Jeddah, Alkhabeer Capital specialises in alternative investments and investment services.
Over the years, the ALDF II, a Shariah-compliant closed-ended fund which raised SR850 million ($231 milllion), generated capital growth through the acquisition, development of necessary infrastructure, [and sale] of more than 242,000 sq m of commercial and residential land in Alworood District “Jeddah’s Old Airport district”, one of the city’s three special development zones located in the downtown area.
Commenting on the exit, CEO Ahmed Saud Ghouth said: "Alkhabeer Capital's successful exit from ALDF II, and the returns we have generated for our clients through this fund, exemplifies our strength in identifying high-growth opportunities and navigating market cycles smoothly."
"We will continue with this approach, keeping our clients at the centre of our investing decisions," he added.-TradeArabia News Service
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