JEDDAH – Alkhabeer Capital, a leading asset management & investment in Saudi Arabia, announced Sunday that it has successfully sold the portfolio assets and exited from Alkhabeer Land Development Fund I. The private placement fund's realized net profit on investment reached 8 percent. Alkhabeer Capital launched the ALDF I as a Sharia compliant closed ended fund in July 2010 with a capital of SR142 million for a term of three years. The Fund acquired over 300,000 square meters of land in Makkah and engaged infrastructure contractors to develop the land according to its objectives and investment strategy. Commenting on the success of the ALDF I, Ammar A. Shata, Alkhabeer's Executive Director & Chief Executive Officer, said: “The success of the ALDF I is a result of our solid investment due diligence processes, execution capabilities and understanding of the real estate market dynamics in Saudi Arabia. He added: The growth of the Saudi real estate market is attributable to the investors' appetite and excellent economic fundamentals of the Kingdom in general and Makkah in particular.” — SG
