The Al-Baraka Investment and Development Company (ABID), a subsidiary of the Saudi Dalla Al-Baraka Group (DBG), recently signed an agreement with the Sheikh Hamad Bin Mohamed Bin Saeidan Insurance Group, establishing the Riyadh Real Estate Development Fund, reported Al-Hayat .
Established in 1982, ABID is a wholly owned subsidiary of DBG, based in Jeddah. ABID represents the Financial Services Sector of the DBG, beginning operations with a paid-up capital of $50 million.
The company has 43 subsidiaries, affiliates and share-holdings, which are active in banking, investments and securities, insurance and reinsurance and leasing, in 29 countries around the globe. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
