GII Saudi Arabia plans to double its US investments
Gulf Islamic Investments group (GII) plans a significant expansion of its US assets, aiming to double its existing portfolio of $750 million through GII Saudi Arabia in the next four years.
The successful public offering of an allocation of zSpace's shares on the US Nasdaq in December 2024 brought GII to US public attention, in addition to several earlier US transactions. GII's expansion aims to focus on new investments in the US logistics, education and food production and processing sectors.
The Saudi-based operations of GII, a leading global alternative investment company with $3.5 billion of assets under management, are the ideal base for this expansion. GII's existing operations in the kingdom include a CMA-regulated Category One financial institution in Riyadh, the largest Saudi dental and dermatological chain (Al Meswak) and a medical insurance provider (Abeer Medical), the largest bakery in western Saudi Arabia (Emad Bakeries), a logistics joint venture in Jeddah (with Logipoint) and a new hydroponic farm in Ta'if, near the holy city of Makkah (Badia Farms).
The Chairman of GII Saudi Arabia and GII group Board Member Fawaz Al Tamimi commented: 'We are keen to expand our investments in the USA, a country that GII knows well since our inception in 2014. The US is well-known as one of the best markets for private debt and private credit opportunities, which will allow GII to scale up its existing operations in these asset classes'. -TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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