Islamic investment firm expects to deliver four real estate developments in 2011.
Kuwaiti Islamic investment firm Al-Madina for Finance and Investment has agreed to buy real estate projects worth $925.7 million, it said on Sunday.
The firm bought four towers in the United Arab Emirates' capital Abu Dhabi through two of its units, it said in a statement on the Kuwait bourse website.
Al-Madina Real Estate Development Co purchased three towers for $789 million, while Sarh Al-Madina Real Estate Co, in which Madina has a 50 percent stake, bought a property for $138 million.
All four projects will be delivered in 2011, the statement said. Shares of Madina are up more than 16 percent this year. (Reuters)