Kamco Invest to relocate its Saudi office to KAFD
RIYADH, Saudi Arabia, March 15: Kamco Invest, a regional non-banking financial powerhouse with one of the largest AUMs in the region, announced its plans to move its Saudi offices to King Abdullah Financial District (KAFD), an iconic architectural landmark in the heart of Riyadh and the prime business and lifestyle destination.
The company’s new offices in KAFD are located in a 300m tall tower designed by the global design and architecture firm, Gensler. Distinguished by a ‘Vertical Wadi’: an organisational spine that links tenants and offers a living green environment at the heart of the tower, the building is the second tallest tower in KAFD and registered for LEED certification.
With assets under management valued at over USD13.8 billion, Kamco Invest offers a comprehensive range of investment products and services covering asset management, investment banking and brokerage. The Saudi operation is considered as one of the largest independent asset managers in the Kingdom with AUM of SAR1.2bn managed on behalf of a prestigious list of clients including high networth individuals, family offices and institutions.
Set in the heart of Saudi Arabia’s capital city Riyadh, KAFD is home to 1.6 million square meters of state-of-theart office space, world-class venues and iconic luxury residences, designed to transform the way urban communities live, work, learn and play. A landmark development, KAFD is a key driver of Riyadh’s economic ambitions, and is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).
Commenting on Kamco Invest’s move, Gautam Sashittal, CEO of KAFD DMC, said, “Global foreign investment increased by over 75% in 2021; in Saudi Arabia alone it more than tripled in the same year. Now is the right time for companies to invest, particularly in growing economies such as the Kingdom. We are glad that Kamco Invest shares this foresight and has joined a growing portfolio of international firms choosing KAFD as their Saudi headquarters.”
Faisal M. Sarkhou, Group CEO of Kamco Invest and Board Member of Kamco Invest - Saudi added, “Saudi Arabia is considered a core market for Kamco Invest, which has been operating in the Kingdom for more than ten years. In addition to the clients we servce in the Saudi market, we have successfully attracted regional clients to invest in the Saudi equity market. We are proud to be part of this financial hub which is in line with our strategy to further strengthen our presence and expand our offerings in the Saudi market.”
About KAFD
Situated in Riyadh, KAFD is an iconic business and lifestyle destination with state-of-the-art physical and digital infrastructure. The destination is owned and managed by King Abdullah Financial District Development and Management Company (KAFD DMC), which was established in 2018 and is a wholly owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia. KAFD’s 94 towers, designed by 25 worldleading architectural firms, have reshaped the skyline of Riyadh. The vibrant mixed-use district offers a range of experiences across its area of 1.6 million square meters and is the largest development globally to achieve LEED Platinum certification, the highest accreditation from USGBC (U.S.
Green Building Council), which recognizes KAFD as a global leader in sustainability.
About Kamco Invest
Kamco Investment Company K.S.C (Public) “Kamco Invest” is a regional non-banking financial powerhouse headquartered in Kuwait with offices in key regional financial markets, established in 1998 and listed on Boursa Kuwait in 2003. It is an independently managed subsidiary of KIPCO Group, adopting the highest standards of corporate governance and regulated by the Capital Markets Authority and Central Bank of Kuwait. Kamco Invest – Saudi is considered a key regional office for the Company and is licensed by the Saudi Capital Market Authority.
Kamco Invest has AUM of over USD13.8bn as of 31 December 2022 allocated to various asset classes and jurisdictions, making it one of the largest asset managers in the MENA region. It has acted as an investment banker to deals exceeding USD34.7bn from its inception to 31 December 2022 in equity capital markets, debt capital markets and mergers & acquisitions.