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Saudi's Jadwa eyes $1.1 bln Aviva deal with CIT-FT

Mon Jul 6, 2009 4:02am EDT

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RIYADH, July 6 (Reuters) - Saudi Arabia's Jadwa Investment is looking at U.S. and UK real estate markets and targeting a deal worth 700 million pounds ($1.14 billion) with European property investor CIT, the Financial Times said on Monday.

Saudi Arabia

The paper quoted Jadwa Chairman Prince Faisal bin Salman bin Abdulaziz as saying the firm planned to invest a chunk of its assets in the U.S. and UK commercial property.

The Saudi investment bank wants to cooperate with CIT to target a property portfolio being sold by British insurer Aviva Plc (AV.L), the paper said.

Riyadh-based Jadwa declined to comment when Reuters called. (Reporting by Ulf Laessing; Editing by Sue Thomas)

Saudi Arabia


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