Oman’s Rakiza Closes at Over USD 1 Billion

Muscat: Rakiza, Oman Infrastructure Investment Fund, co-managed by Oman Infrastructure Investment Management (OIM) and Equitix, announced that its subscription closed at more than USD 1 billion.

A statement issued by Rakiza said that the fund deployed 25 percent of its capital in three projects, namely a stake of 30 percent in portfolio of telecom towers in the Sultanate of Oman, a stake of 31 percent in Oman International Container Terminal in the Port of Sohar and a majority stake in Khazaen Central Vegetable and Fruit Market.

Muneer Al Muneeri, Rakiza Founder and OIM’s CEO said:“Our target of raising over USD 1 billion is an important milestone, on which Rakiza hopes to build with similar future initiatives.”

For his part, Hugh Crossley, Equitix Co-Founder and CEO said that achieving the targeted profits for the fund came through investing, developing and implementing infrastructure projects in the Sultanate of Oman. He commended the efforts of the local investment teams at the Fund’s headquarters in Muscat.

Rakiza investments in Oman that focus on telecommunications, energy, water, transportation, logistics, infrastructure and renewable energy sectors, aim at achieving stable returns from.

The Fund seeks to create value through its investments while supporting the achievement of financial sustainability goals set by its main investors by considering environmental, social and institutional governance factors, in addition to making a positive long-term impact on financial performance, society and the environment. – ONA

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