Hong Kong fund to invest $400m in Gulf property market

June 4, 2014 2:59 am

PineBridge Investments, the money manager controlled by Hong Kong billionaire Richard Li, plans to invest about $400m in real estate across countries including Saudi Arabia and the UAE, Bloomberg has reported. Talal Al Zain, PineBridge’s CEO for the Middle East, said the fund, which is focused on the six GCC countries, will target sale-and-leaseback deals for shopping centres, warehouses and infrastructure such as schools and hospitals. The fund plans to raise $200m and borrow the rest.