Reuters: Bahrain's Arcapita Buys Part of Abu Dhabi Property Project for $200 mln
2015-07-14 - 9:42 p
Reuters: Arcapita, the Bahrain-based investment management firm, has acquired phase one of Saadiyat Beach Residences, a residential real estate complex in Abu Dhabi, the company said in a statement on Tuesday.
The size of the purchase was not disclosed in the statement but a source close to the deal said it was around $200 million.
Arcapita bought the asset from Mubadala Development, an Abu Dhabi state-owned fund with a mandate to develop the emirate's economy, the statement said.
Phase one includes three low-rise buildings in a gated community and is under a three-year master lease to Tourism Development & Investment Co, an Abu Dhabi state-owned investment fund. It features 285 one- to three-bedroom apartments.
Read More
- 2023-11-25S&P Revises Bahrain's Outlook to "Stable" on Fiscal Deficit Worries
- 2023-07-13Haj Sumoud Transferred from Dry Dock Prison to Al-Salmaniya Emergency Department after His Health Deteriorated
- 2023-06-22Bahraini Mumtalakat Buys Saudi McLaren's Stake
- 2023-05-18After Allocating $5 Billion Investment Fund, Is Bahrain Waiting New Saudi Support?
- 2022-09-21Abu Sa'afa Field Revenues Reach One Billion, 33 Million BD, Its Revenues Expected to Increase by 40% this Year