Saudi’s Al Rajhi starts $300 mln Islamic property fund

Saudi’s Al Rajhi starts $300 mln Islamic property fund

Saudi Arabia’s Al Rajhi Group, a petrochemical-to-property conglomerate, is starting a shariah compliant $300-million Singapore-based fund that will invest in Asian property.

The fund, a joint venture with a Singaporean investor Yusof Wahid, will start with an initial investment of $100 million, the family-owned Al Rajhi Group said in a statement.

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