CAG Funds chairman, Mr. Najib Choufani and Saudi Binladin Group chairman Bakr Binladin sign strategic partnership agreement for coverage globally with a particular focus on Saudi Arabia and other Islamic countries. CAG Funds and Binladin Group will pool their resources together to maximize development, finance and specialization capacity in the infrastructure and real estate development sectors. CAG Funds’s access in Saudi Arabia and all other Islamic states will be directly with top international investors and government leaders such as Presidents, Prime Ministers and ruling royal family members on given transactions.
Saudi Binladin Group is a multinational developer and construction conglomerate. Recently, the group signed a US$1.23 billion contract to construct the tallest building in the world, Jeddah Tower in Jeddah and US$3.4 billion to construct Doha Metro in Doha, Qatar. The group has developed landmark real estate projects globally from Far East Asia to Africa, and of course the Middle East. In 2005, Saudi Binladin Group was awarded a consortium with its international peers of $26.6 billion to build the King Abdullah Economic City.