Alkhabeer Capital records 8% asset growth
Operating income and net revenue decline over devaluation of realty portfolio
Alkhabeer Capital, the Jeddahbased asset manager specialising in alternative investments, said its assets under management ( AUM) rose 8 per cent on year to 4.8 billion
DME Oman Crude + 0.38%
Spot Gold Saudi riyals ( Dh4.7 billion). Operating income and net revenue for the year were 187 million riyals and 61 million riyals respectively, a decline of 10 per cent and 14 per cent respectively from last year.
This was mainly due to a devaluation of Alkhabeer Capital’s real estate portfolio, which reflects the downward trend in regional and international real estate markets.
Musa’ad Mohammad Sa’ad Aldrees, chairman of Alkhabeer + 0.42%
UAE 24 ct Gold/ 10g + 0.46% Capital, said: “We have made excellent progress in diversifying our business portfolio and product offerings.”
Ahmad Saud Ghouth, Alkhabeer Capital’s CEO, said. “During the year, we launched the Alkhabeer GCC Opportunity Fund and Alkhabeer Opportunity Fund II, while we restructured our Alkhabeer Real Estate Residential Development Fund II. Also, we established the Alkhabeer Industrial Private Equity Fund III.”
UAE 22 ct Gold/ 10g + 0.49%