Riyadh-Mubasher: Global Investment House - Saudia (Global Saudi) and Mosa bin Abdulaziz Al Mosa Group have signed an agreement to launch an income generating real estate fund in Saudi Arabia.
The agreement aims to offer fund opportunities in income-generating real estate in several Saudi cities.
The company will act as the fund manager, with Mosa as the strategic partner.
The Saudi market has attractive investment opportunities in the real estate sector and this agreement will focus on the provision of real estate units in sectors and regions with high demand and limited supply.
"We are excited to partner with Global Saudi, which is an important step in providing real estate opportunities that meet the market needs,” said Mosa’s chairman, Mosa Al-Mosa.
“The experience of Global Saudi in asset management and investment funds in particular will contribute to the success of this cooperation by attracting the necessary capital and managing the fund professionally," the chairman said.
Khaled Alsorayea, Global Saudi CEO, said this agreement is the first cooperation between the two companies to launch other investment and real estate products in future.
“Our partnership with Mosa and its experience in the real estate market in the kingdom will inevitably be an added value and an important source of attractive real estate opportunities," he noted.
