Saudi property investment and manager NCB Capital said that it has set up the world's first shariah-compliant property fund. The Alahli Global Real Estate Fund (GREF) will invest in companies whose activities are in real estate development across the world. The new fund will be active in a market that experts value at $1.5 tln, and that doubled in size between 2006 and 2007.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
