Search
 

Two New Dubai Real Estate Funds Aim for $6B

DUBAI-Sama Dubai and Emirates Bank Group jointly launch an AED 22-billion (US $5.94-billion) fund. Evolvence Capital aims its US $150-million, Shariah-compliant fund at the Abu Dhabi property market.

By Alex Finkelstein | Updated on June 09, 2006

(To read more on the debt and equity markets, click here.)

DUBAI-Three big-name global real estate investment players have opened funds totaling US $6.09 billion. Sama Dubai, the international real estate investment and development arm of Dubai Holding, and Emirates Bank Group, represented by Emirates Bank and Emirates Islamic Bank, have launched an AED 22-billion (US $5.94-billion) fund targeting the Dubai real estate sector.

Evolvence Capital, owned by nine high net-worth families across the Gulf, is aiming its US $150-million, Shariah-compliant fund at the Abu Dhabi property market. The Evolvence India Life Sciences Fund will provide growth capital to Indian pharmaceutical and biotechnology companies, says Khaled Al Muhairy, CEO and founder of Evolvence Capital. He says the new fund will target $50 million from the Gulf and the remaining $100 million from global markets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.