Saudi - Malaysian investment in real estate trust
Malaysian and Saudi companies have signed deals worth some $800m, AFP reported. The agreements were signed Tuesday after meetings between Malaysian business people and their Saudi counterparts, who were accompanying Saudi Arabia’s King Abdullah.
The biggest venture will see the Johor Corporation, the investment arm of Malaysia’s southern Johor state, in collaboration with Saudi investment firm Siraj Capital to create two funds. The two sides agreed to pump over 500 million dollars into a sharia-compliant real estate investment trust.