KFH purchases real estate assets in US

9 January 2012: Kuwait Finance House (KFH) has purchased a group of selected real estate assets and entered into long-term partnerships with strategic real estate partners in 2011 worth around $1bn (approx Rs.5,276 crore) in a plan to expand its portfolio of real estate investments.

It has signed an agreement with US-based Grosvenor to invest about $600m (approx Rs.3,163 crore) in income-generating real estate activities in the US market. The agreement is the second between the two sides, as Grosvenor had managed assets between 2004 and 2007 for the benefit of KFH in the real estate health services in the US.

Source: Trade Arabia