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  2. UAE’s Green Coast plans to pump $200mn investments in Saudi Arabia

UAE’s Green Coast plans to pump $200mn investments in Saudi Arabia

GHADA.ISMAIL
Nov 28, 2024
Green Coast plans to inject the amount within 5 years with a special focus on the renewable energy sector in Kingdom

Riyadh – Sharikat Mubasher: UAE-based Green Coast Enterprises LLC announced intentions to pump $200 million worth of investments into the Saudi Market.

Mohammed Abdulghaffar, CEO of Green Coast told Asharq Business that the company plans to inject the amount within 5 years with a special focus on the renewable energy sector.

Established in 1977, Green Coast has grown and evolved into an established organization over the years with diverse interests in market-leading businesses.  

The company’s portfolio covers various industries such as manufacturing and trading through established international partnerships, renewable energy and sustainability, real estate, and investment management.

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Green Coast
investment
Saudi Arabia
Renewable energy
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Riyadh – Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) and global real estate services firm JLL announced that JLL will acquire a significant minority stake in Saudi Facility Management Company (FMTECH), while PIF will retain a majority holding.According to an official joint press release, the transaction remains subject to customary closing conditions.Following the transaction, FMTECH is expected to benefit from JLL’s global operating expertise, digital facilities management platforms, and international network, supporting service quality, operational efficiency, and transparency across its delivery model. The move is also intended to accelerate knowledge transfer and the localization of advanced technologies within the Saudi facilities management sector.Established by PIF in 2023, FMTECH operates as a national integrated facilities management platform, serving PIF portfolio companies alongside public and private sector clients across the Kingdom. The investment is set to deepen JLL’s presence in Saudi Arabia and builds on its existing partnership with PIF.Saad Alkroud, Head of Local Real Estate Investment at PIF, highlighted that the deal aligns with PIF’s real estate strategy and its broader mandate to drive economic diversification and urban development.Meanwhile, Neil Murray, CEO of Real Estate Management Services at JLL, noted that the partnership combines global operational capabilities with strong local market insight to meet growing demand in Saudi Arabia’s expanding real estate and infrastructure landscape.

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