Gulf Real Estate Fund launched
According to Al-Jazirah newspaper, the Global Investment House ('Global') and the Arkan Real Estate Company have recently launched the Gulf Real Estate Fund, which focuses on developing and owning residential real estate investment opportunities in the Arabian Gulf region. The Vice President of Global, Mr. Abdul-Mohsen Al-Gharbalaly, said that the real estate investment and development sector has witnessed a rapid growth over the past period in the Middle East region in general and in the Arabian Gulf region in particular.
Global, a Kuwaiti investment banking firm incorporated in June 1998, has emerged as one of the leading firms in the GCC region, offering a wide range of products and services including corporate finance advisory, portfolio management, equity research, brokerage services and investment funds. In 2004, Global announced net profits of US$72 million, with assets under management reaching over US$3.4billion.