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KFH invests $275 million in China real estate
01 Sep 2008
The Kuwait Finance House (KFH) is to invest $275 million in real estate project in China as part of its expansion plans in the Asia-Pacific region.
According to the KFH, a contract has been signed with Chinese developer Nai Hai to invest in the Peninsula project in the Shekou and Shenzhen areas of China.
Emad Al-Thaqeb, chief executive officer of the firm, said that the investment was an attempt by the firm to capitalise on the success it had seen in Malaysia, Singapore, Indonesia, and other countries in the region.
The KFH told the Economic Times of India: "This comes as a step from KFH to cement its investments in this vital spot of the world."
It is entering the agreement with Nai Hai via its recently established Asian fund 2.
The development is expected to be built in five different construction phases at a cost of $3 billion.
According to the Arab Times, the real estate market is expected to rebound during the next month after experiencing a downturn during the summer. 
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