ICD buys Capitas Group International

As part of its strategy to facilitate private sector investment, the Islamic Corporation for the Development of the Private Sector (“ICD”), has acquired Capitas Group International and has changed its name to Catalyst Group.

The existing Catalyst Group management team is extending market interventions in real estate development and Islamic non-bank financial institution advisory services.

In conjunction with the launch of the new brand, the tagline ‘Energizing Enterprise’ has been chosen to better reflect the current and future direction of the company.

Khalid Al Aboodi, CEO of ICD, said: “The acquisition of Catalyst Group is strategically important as it will act as a facilitator for business in the markets we serve.”

Meanwhile, Nazih Al Naser, CEO of Catalyst Group, said: “Catalyst Group is pleased to have the support of the ICD and looks forward to assisting our partners with pure-play real estate opportunities, real estate finance advisory services, and generally improving access to capital for small-to-medium enterprise through our interventions.”