Shuaa Capital has signed an agreement with Arton Capital to establish real estate development funds in the markets experiencing high growth rates.
According to Arabnet, the partnership aims to create products and investment opportunities that include a fund worth one hundred million euros to attract foreign investments to markets such as Montenegro, in addition to meeting the growing demand for Second residency and citizenship programs.
The funds aim to achieve returns of more than twenty percent through acquisitions of real estate projects, their development and then sale to investors.
and Shuaa Capital announced its financial results for the third quarter of 2020, with net profits reaching 59 million dirhams for the third quarter, which raises the net profits recorded for the period from the beginning of the year to The end of the third quarter to 64 million dirhams.
The Group also witnessed the continuation of achieving EBITDA, which amounted to 114 million dirhams for the third quarter of 2020.
and the Asset Management Unit in Shuaa maintained its investment base and positive path, with the value of assets managed rising to $ 13.6 billion at the end of the third quarter of 2020 compared to 13 billion Dollars in Q2 2020, driven by net new funds K, market performance, and foreign exchange earnings.
With continued progress in post-merger and organizational integration systems, Shuaa has achieved 55% of the annual rate targeted at the end of 2021, which has been raised. Shuaa achieved 30 million dirhams out of the target rate, which was raised to 55 million dirhams.
In addition, the company continues to reduce the size of its non-strategic assets, as it has succeeded in reducing the unit of non-core assets by 39% from July 2019 to date, while continuing its quest To close the unit by the end of 2021.
