Built to inform

Sign up for the daily newsletters

No, Thank you

Saudi Arabia's Arbah Capital buys Glasgow's Sauchiehall building

$76-million transaction will help attain value amid uncertainty in the UK, CMA-licensed Arbah Capital says

Arbah Capital has acquired the Sauchiehall building [representational].
Pixabay
Arbah Capital has acquired the Sauchiehall building [representational].

Saudi Arabia-based Arbah Capital has acquired the Sauchiehall building in Glasgow, UK, valued at $76m (SAR285m), through a sharia'a-compliant investment structure, with Arbah saying that the acquisition represented a “core long term investment” and would help attain value at a time of uncertainty in the UK.

The investment firm, which is licensed by the kingdom's Capital Market Authority (CMA), added that the Sauchiehall building aligned with its main strategy to focus on acquisitions of distinctive assets.

The mixed-use property is a 2.87ha LG+G+6F structure, and features a multi-storey car park as well. 

Commenting on the transaction, Arbah Capital's chief executive officer, Mahmood Al Kooheji, said: “This purchase enhances Arbah’s strategic alliances and relationships which further supports its position as an international gateway into the Saudi Arabian and the regional investors market.”

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 753
Nov 09, 2019