One of the Largest Asset Managers in MENA with $11.5bn (AUM) Discusses Strategy and Investments
We are also one of the largest asset managers in the region; we manage over 3.5 billion KDs worth of assets under management (AUM).
imported 2024-03-17 17:43:07
We are also one of the largest asset managers in the region; we manage over 3.5 billion KDs worth of assets under management (AUM).
Kuwait is an oil related economy, with the energy sector dominating the economy. Oil and oil related products constitute about 55 to 60% of Kuwait’s GDP. A sharp drop in oil prices, like a 40% drop, is going to affect the economy. The nominal GDP will get affected. Real GDP will depend on how OPEC reacts about 6 months down the line.
We need to increase the numbers by 15 to 20% every year to reach the target we have set ourselves, of $20 billion. We plan to have strong advertising campaigns all the way through to 2020. We will try to attract new segments of tourists to visit Egypt by offering safaris, spas, golf and MICE.
Egypt is the world’s largest importer of wheat, at around 10 million tons per year. Unfortunately, due to the lack of sufficient or proper storage conservative numbers by the government estimate around 30% of crops are wasted. Blumberg Grain has a solution.
The challenge at FDI, is how to bring foreign direct investments into a country with a troubled neighborhood. But as one of the emerging market powers, the public equity is going to be opened in Saudi Arabia in the middle of this year.
The new concept of New Homes has been in the market since 2008 to serve the developers as a marketing arm and as a consultant to consumers, to assist them in choosing from different developments across the country, especially residential, gated communities, or as we call them, ‘compounds’.
What is interesting about doing business in Saudi Arabia is the continuous growth pattern in the economy; that’s what makes it interesting, not only in the short-term, but in the long-term. Saudi Arabia’s economic growth is driven by its demographics: we are a young and growing population, a big and spacious country (around the size of Western Europe), and relatively undeveloped in many infrastructure areas.
Itqan Capital is a Sharia Compliant company focusing on four main lines of business, Asset Management, Principal Investment, Investment Banking and Custodial Services.
Doing business in Saudi Arabia has become more regulated. That is one of the reasons why have such split views. The role of SAGIA, the investment authority, has become more active. They are supervising the investors, checking whether the investors with license are really active or not.
“In addition to the mega projects we have tangible, well-studied sectorial industrial projects in several fields and sectors, including petrochemicals, the engineering sector, household goods, electrical equipment, white goods etc., that are for the domestic Egyptian market.”