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Sun 13 Apr 2008 01:50 PM

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KFH plans $1.5bn Bahraini real estate project

Kuwait Finance House looks to invest in several commercial and residential projects.

Islamic lender Kuwait Finance House (KFH) plans to sell several investments in Bahrain, Al-Watan newspaper said on Sunday.

KFH, Kuwait's biggest lender by market value, plans to release a statement about the deal in the next few days, the paper said in an unsourced report. It did not provide further details.

Separately, the paper said KFH was planning a real estate investment in Bahrain worth $1.5 billion. The plan would consist of several commercial and residential projects on a area of 5,000 square kilometers.

The deal was pending the outcome of studies, it added, citing unidentified sources.

Daily Al-Rai said on March 16 KFH was close to securing a real estate deal in Bahrain worth $1.5 billion.

The lender could not be immediately reached for comment. (Reuters)

Jan Rockstroh 11 years ago

"KFH was planning a real estate investment in Bahrain worth $1.5 billion. The plan would consist of several commercial and residential projects on an area of 5,000 square kilometers" This would be an investment of 30 cents per square meter? Plus Bahrain is only 665 sq Km in size...