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Kuwait Finance invests $275mn in China project

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 30 August 2008
CHINA DEAL: Kuwait Finance House said on Saturday it was investing $275 million in a real estate project in China. (Getty Images)
CHINA DEAL: Kuwait Finance House said on Saturday it was investing $275 million in a real estate project in China. (Getty Images)

Kuwait Finance House (KFH), the Gulf state's biggest bank by market value, said on Saturday it was investing $275 million in a real estate project in China as part of plans to boost its exposure to Asia.

KFH has signed a deal with China's Nan Hai Corp to invest in the $3 billion Peninsula real estate development through its Asian Fund 2, the Islamic bank said in a statement.

"This comes as a step from KFH to cement its investments in this vital spot of the world," the lender said. (Reuters)

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