11 hours ago
Oman's Rakiza Fund eyes key infrastructure opportunities
MUSCAT: Oman-based infrastructure fund manager Rakiza, a platform under the Oman Investment Authority (OIA), is eyeing new investment opportunities in the water and digital infrastructure sectors, according to the Fund's Chief Executive Officer, Muneer al Muneeri.
Speaking in an interview with Bloomberg TV on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual Meeting 2025, held in Beijing, Al Muneeri said the Fund continues to leverage its strong regional ties and deep market insight to build a robust and resilient infrastructure portfolio across Oman and Saudi Arabia.
Rakiza, which manages a billion-dollar infrastructure-focused fund, currently invests in a mix of core assets, including logistics, power, social infrastructure, and increasingly, digital infrastructure. Over the past five years, the Fund has concentrated its efforts in Oman and Saudi Arabia, amassing a portfolio of five key assets across both countries.
Among its notable holdings is a stake in Oman International Container Terminal (OICT), the main shipping gateway for northern Oman. Rakiza also owns 30% of Helios Oman, the largest independent telecom tower company in Oman, and 40% of Oman Broadband, the country's monopoly provider of fibre-to-the-home networks.
In Saudi Arabia, Rakiza holds a 40% interest in Tihama, a power generation project serving Saudi Aramco, while in Oman, it is invested in the Khazaen Fruits & Vegetable Market (Silal)—a major logistics hub for the food sector developed on a public-private partnership (PPP) basis just outside Muscat.
Looking ahead to the next 12 to 24 months, Al Muneeri said Rakiza remains focused on its core sectors, but sees rising opportunity in water infrastructure and continued potential in digital infrastructure.
'We continue to explore opportunities that offer the right balance of risk and fair returns for our investors,' he said.
He added that the Fund targets low- to mid-teen internal rates of return (IRR) and has been able to consistently find such opportunities in the region.
Addressing competition from global funds entering the region, Al Muneeri emphasised Rakiza's unique position as a local and regional champion. 'That's our story — we're local, we understand the market, we speak the language, and we know the legal and regulatory frameworks,' he said.
'We've been able to demonstrate to strategic investors that we are the right local partner. And certainly, we've secured several off-market transactions thanks to our regional credibility and positioning.' When asked about investor sentiment in light of recent regional tensions, particularly following the escalation of conflict in Iran, Al Muneeri acknowledged short-term concerns but underscored the resilient nature of infrastructure investing.
'Yes, in the short term, such events may impact sentiment and lead to repricing of risk,' he said. 'But infrastructure is by design a long-term, essential investment — covering sectors like power, water, ports—often backed by long-term contracts or concession agreements that insulate it from short-term volatility.' He added that Rakiza's deep understanding of regional dynamics has allowed the Fund to navigate risks effectively and identify solid, forward-looking investment opportunities.
