ADIC to launch global real estate fund

While the firm is focused on the Middle East and North Africa, ‘this is a fantastic time for global real estate’, said ADIC’s head of private equity, citing declining valuations, which ‘would continue for some time’.

The Abu Dhabi Investment Company (ADIC) will launch an international real estate fund shortly and four different funds in four weeks, said Samir Assaad, head of private equity at ADIC, according to Reuters.

ADIC will invest in the MENA region and is currently in discussions with family businesses seeking to divest and reallocate some of their holdings, the report noted. Opportunities were beginning to emerge in the UAE, Saudi Arabia, Turkey and Egypt, Nazem Fawwaz Al Kudsi, ADIC chief executive, said in March.

He added that banks were still prepared to lend to firms in the MENA region on deals of up to $250 million.

“The next two years will provide a fantastic time for private equity, a window of opportunity that you will not see in a few years to come,” said Samman in the report. He added that the declining valuations would continue for some time as managers rebalance their portfolios and adapt to the realities of current markets. 

ADIC’s real estate arm focuses on mixed-used developments across the MENA region, according to its website. The firm is owned by the Abu Dhabi Investment Council.

Samaan, formerly Kuwait-based NBK Capital’s head of private equity, joined ADIC this March.