English and Saudi companies invest 100 million Euros in the city of Porto

MEFIC Capital, a financial services company registered in the Saudi Arabian Capital Market Authority, and Round Hill Capital, a UK real estate investment, development and asset management company, announced the joint acquisition, through subsidiaries, of a 7.8 ha plot adjacent to the Campus of the University of Porto in Paranhos, Porto.

The partnership's investment in the urban rehabilitation project reaches 100 million and will have various uses that include residential construction for students, apartments and a hotel, supported by commercial spaces such as a supermarket, a market and an office space. The plot will be included in Porto Innovation District, an initiative between Porto’s City Council and the universities, colleges, business schools, hospitals, institutes and research centers, in order to promote innovation, entrepreneurship and investment in Porto.

Regarding the transaction, Ibrahim A. Al Hedaithy, Executive Director of MEFIC Capital, said the company is "very pleased that MEFIC's first investment outside of Saudi Arabia was made in Portugal, a country that shares our values of integrity and professionalism".

Michael Bickford, founder and CEO of Round Hill Capital, said that the company is "grateful to Porto’s City Council and InvestPorto for their collaboration in all phases of the process, which further strengthened the confidence in the future of this project".
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