Arcapita completes over $250m in new deals during FY 2019

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Abdul Aziz Hamad Aljomaih, chairman of the Arcapita Group.
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Atif A. Abdulmalik, founding partner and CEO.
Updated 09 October 2019

Arcapita completes over $250m in new deals during FY 2019

Arcapita, a global Shariah-compliant investment firm, has announced its financial results for the 12 months ended June 30, 2019 (FY 2019).

Arcapita delivered strong results in FY 2019 with revenues of $54.6 million and a net income of $21.9 million, representing 44 percent and 76 percent growth over the previous fiscal year, respectively. This positive performance was driven by the placement of transactions completed during the year and gains on the firm’s investment portfolio.

Arcapita’s total equity as of June 30 grew to $237.9 million, representing an 8 percent increase year-on-year, and the firm’s balance sheet investments grew by 16 percent to reach $245.5 million.

The firm was primarily focused on sourcing transactions in the US during FY 2019 given its strategy of growing its assets under management (AUM) globally, and increased investor appetite for US investments. Overall, Arcapita completed four US transactions and one transaction in the GCC, for a total transaction value of over $250 million. These included two industrial real estate portfolios in the US, an industrial real estate portfolio in the UAE, and two bolt-on private equity investments in the US.

Abdul Aziz Hamad Aljomaih, chairman of the Arcapita Group, said: “We are very pleased to report our positive results for FY 2019. The GCC’s investment landscape was impacted by a challenging macroeconomic environment that carried through from last year. Despite this, we have continued to source transactions in sectors where we have built considerable expertise over the past two decades, including the industrial, logistics, and business services sectors.”

Atif A. Abdulmalik, founding partner and CEO, said: “Over the past year, we expanded our US and GCC investment teams and strengthened other divisions in order to facilitate our growth. This will enable us to continue to solidify our global presence amidst an evolving global economic landscape. We have set ambitious targets for the upcoming fiscal year and are well-positioned to continue providing innovative investment opportunities and delivering strong returns to our stakeholders.”

Almosafer unveils ‘Winter at Tantora’ packages

Updated 23 October 2019

Almosafer unveils ‘Winter at Tantora’ packages

With preparations in full swing for the second edition of Winter at Tantora, Almosafer, the flagship brand of Seera Group’s consumer travel business unit, has announced a host of event packages especially designed for fans preparing to attend the second season between Dec. 19 and March 7, 2020.

Winter At Tantora is coming back to the historic site of AlUla, the UNESCO World Heritage Site in Saudi Arabia, and will feature a rich calendar of weekly cultural events, equine and events, celebrity performances by some of the world’s greatest musicians. This year, the global event will be supported by Seera Group, a provider of travel and tourism services, which has been appointed as the key destination management company (DMC) to offer travel bookings, hotel stays, car rentals and added-value experiences for guests from around the world.

Almosafer, an omni-channel travel brand in Saudi Arabia, will market “Winter at Tantora” extensively across social media and other communication channels and offer visitors an extensive range of package options including accommodation, flights, transportation and ancillary services for both weekend visits or one-day options. Visitors are also offered one-on-one personal consultation with travel advisers across Almosafer’s retail network in the Kingdom.

Travelers will get to choose between three different package category options — Gold, Platinum and Diamond — which include return flights, hotel accommodation, as well as airport transfers and a visit to AlUla heritage sites. The event packages also differ depending on the length of stay. Festival goers can either opt for a one-day weekend package or extended stay, depending on the number of concerts and activities they would like to experience at Winter at Tantora.

To enhance their itinerary, travelers can complement their standard packages with additional activity bundles that offer a variety of bucket-list activities such as: Sunset and sunrise hot air balloon rides, vintage aircraft flights, as well as several unique gastronomy experiences. 

Winter at Tantora will bring 12 weekends of wonder to the AlUla oasis, inspired by its spectacular scenery. Home to archaeological treasures, natural beauty and magnificent monuments that span millennia, AlUla is set on the ancient incense route between Southern Arabia and Egypt. It became a hub of commercial and cultural exchange because a lush oasis valley ran through it, creating an ideal environment for civilizations to flourish.

Providing hotel booking options for over 1.5 million properties around the globe, flight bookings on over 450 airlines and complete holiday packages, Almosafer boasts various convenienat booking solutions for any type of travel needs.