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SWICORP, RETAL CLOSE “EWAN AL-QAYRAWAN REAL ESTATE DEVELOPMENT FUND”
Published by Gbaf News
Posted on April 2, 2015
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Gbaf News
Posted on April 2, 2015
2 min readLast updated: January 22, 2026
Swicorp, a leading asset management, private equity and investment banking firm with a specific regional focus on the Middle East and North Africa (MENA) region, has successfully raised SAR112 million in equity, and arranged a SAR132 million loan facility from a local bank for Ewan Al-Qayrawan Real Estate Development Fund.
The Fund was established by Swicorp in partnership with Retal Urban Development Company – fast becoming a leading urban development company in Saudi Arabia through delivering comfort, luxury and affordability to a wide and growing market. A subsidiary of the Al-Fozan Group, Retal will develop and sell 164 villas in Dammam City, Eastern Province.
Swicorp, founded in 1987 by current chairman Kamel Lazaar, and licensed by the Capital Market Authority of Saudi Arabia and the Dubai Financial Services Authority, has grown today to be one of the region’s premier financial services providers. It has an extensive track record over more than 25 years of pioneering mergers and acquisitions, advisory and real estate transactions across MENA for regional and international clients.
Ewan Al-Qayrawan Real Estate Fund
Commenting on the Fund’s closing of subscriptions, Mr. Kais Mbarek, Head of Asset Management at Swicorp, said: “Swicorp is honored to take the role of Fund Manager for Ewan Al Qayrawan and to contribute to the development of the real estate sector in the Eastern region. We are confident that with our experience and expertise in asset management and real estate financing, we will be able to generate attractive returns for Fund investors in partnership with Retal Urban Development Company and hope that this Fund will be the start of a long-term mutually beneficial relationship between the two parties. Ewan Al Qayrawan Fund is another important addition to the range of products and funds that Swicorp carefully selects to satisfy the varied demands of its clients and investors,” he pointed out.
Under the structured plan, the Fund will return the money to investors by end of 2016 and start of 2017.
Moreover, Mbarek remarked “Ewan Al Qayrawan represents an important milestone for our asset management activity. It is the second in a series of real estate funds which we will be launching in the coming months.”
He pointed out that at Swicorp “we are keen to bring together first class developers and attractive locations and projects, in order to structure and launch attractive and high-performing real estate development funds.”
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