Sedco Capital Eyes $300 mln Real Estate Investment in Europe: Report

Jeddah-based Sedco Capital plans to launch an investment fund worth $300 million in Europe’s real estate market, where its Luxembourg-based fund will be distributed through European investment firms, the company’s chief executive said.

Sedco will work with European investment banks and other companies specialized in fund management, chief executive Hassan Aljabri, told Reuters on the sidelines of a conference in Dubai.

The firm will also make a SAR 500 million ($133 million) investment next quarter in the Saudi real estate income fund that Sedco launched last year, he said.

Last month, Sedco launched its first fund managed by its own team, expanding its asset management capabilities before the opening of the Saudi stock market to foreign direct investments, which is scheduled for the beginning of next year.