Investcorp announces completion of first European real estate portfolio

Mohammed Alardhi, executive chairman of Investcorp.
Updated 22 November 2017
0

Investcorp announces completion of first European real estate portfolio

Investcorp, a leading global provider and manager of alternative investment products, has announced the completion of its first European real estate portfolio following the acquisition of seven additional assets.
The completion of the firm’s debut European portfolio — its UK industrial and logistics portfolio — is the first step in the firm’s ambition to build on its success in the US, where it is one of the biggest international real estate investors. The European strategy, which aims to create a portfolio of income-generating assets for investors, was launched in 2016. Following this acquisition, Investcorp’s European real estate investment already exceeds $100 million.
Investcorp will continue to explore multiple other European strategies, targeting income generating assets across various sectors and European geographies.
Mohammed Alardhi, executive chairman of Investcorp, said: “As we embark on our next phase of growth, I am pleased that our European real estate team is making significant progress in building out its property portfolio. This deal is further evidence of the momentum we’re creating in this important pillar of our growth strategy.
“The strength of our global network combined with our local expertise provides Investcorp with a leading edge in sourcing and originating real estate deals across Europe, providing the potential for long-term attractive returns for our investors.”
Yasser Bajsair, managing director at Investcorp in Saudi Arabia, said: “Europe continues to be an attractive market for Investcorp. With our recently formed European real estate team, and the completion of our first European real estate portfolio, we believe that we are on the right track to further strengthen our track record in Europe. It is also exciting to see our successful real estate investment business in the US grow into the UK.”
The investment announced comprises approximately 700,000-square-feet across three single-let distribution warehouses and four multi-let light industrial properties.
The properties are located in High Wycombe, Leeds, South Elmsall, Liverpool, Warrington, Glasgow and Edinburgh, and have a high level of occupancy rate with more than 40 tenants including many well-established occupiers.
The investment has been made in partnership with Citivale, a UK-based asset manager.


Emirates NBD opens branch in Alkhobar

Updated 20 September 2018
0

Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.