AlHilal Investment CEO says launch of real estate unit to help buy more assets, diversify income sources

Sultan Al Sheikh CEO of AlHilal Club Investment Co.

AlHilal Club Investment Co.’s CEO Sultan Al Sheikh said the launch of AlHilal Real Estate Co. will help the investment firm acquire and develop more assets and diversify its income sources.

The strategy, business plans, budget and future projects of the entity will be determined, Al Sheikh told Argaam in an exclusive interview.

The new entity will start with launching a SAR 50 million income-generating fund in partnership with Alajlan Riviera.

“The investees of AlHilal Club may seek listings on the Saudi Exchange (Tadawul) or Nomu-Parallel Market, but it is still too early to decide,” Al Sheikh elaborated.

“We currently aim to boost profitability and market reach, in line with strengthening the firms with which we operate. Then we will study listing plans in the company years,” he concluded.