Bahrain-based RealCAPITA has established an alliance with a Moroccan company to become a major player in the affordable housing market.
According to the GDN, the House Invest company has been established as a strategic alliance between RealCAPITA and Jet Asset Management, the investment division of Jet Group. It aims to attract investments worth $400 million and establish over 22,400 homes, from next year to 2010.
The investment fund RealMAROC, whose strategic alliance partners include Saudi-based Dammam Development, Saudi-based Al-Khuzama Investments, Abu Dhabi-based InJaz MENA, Kuwait Commercial Markets Complex Company and Saudi-based Al Rajhi Investment Group, was also announced at the ceremony.
