Shuaa Capital to reveal first deal with Jabal Omar: MD

Shuaa Capital plans to reveal its first deal with Jabal Omar Development Co. in the coming days, Abu Dhabi Financial Group’s (ADFG) Managing Director Jassim Alseddiqi told Al Arabiya channel.

Shuaa Capital and Jabal Omar signed in April a memorandum of understanding (MoU) to launch and manage real estate investment vehicles in the Kingdom, Argaam previously reported.

As for Shuaa Capital’s other investment plans in Saudi Arabia, Alseddiqi said that the firm has previously signed an MoU with UAE-based National Bonds to launch a joint venture in the Kingdom.

Elsewhere, Alseddiqi said that Goldilocks Fund, a subsidiary of ADFG, plans to increase its stake in Gulf Navigation Holding.

“We will also announce various acquisitions in local companies over the coming weeks,” he said.

ADFG is the major shareholder of Shuaa Capital.