Shuaa Capital Saudi Arabia has concluded a land acquisition on behalf of the Shuaa Saudi Hospitality Fund I.

The acquisition marks the first private equity fund investment of its kind in the Kingdom of Saudi Arabia.

The fund has a target size of SAR2bn.

Shuaa Capital Saudi Arabia was established to promote investment opportunities within the Kingdom of Saudi Arabia and the broader Middle East and North Africa region.

Through its headquarters in Riyadh, Shuaa Capital Saudi Arabia is licensed to conduct all investment banking activities including asset management, advisory, raising of capital, corporate finance, private equity, underwriting and custody services. These services are available to corporation, governments, institutional client and high net worth individuals.