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Kuwait Finance House Invests in Canadian Properties

Kuwait : 08 April 2010

Kuwait Finance House is moving into the Canadian Real Estate Market they stated late yesterday. This new investment is said to be a joint venture between KFH and a Canadian Real Estate Investment company known as Killam properties, it is believed that together they have just invested  somewhere in the region of CDN$450 million to acquire a large holding of residential properties in Canada.

KFH recently signed another deal with UDR which is an American Real Estate Company and this deal was believed to be closed for a figure in the region of $450 million. The Assistant General Manager for Investment at KFH has stated that these investments in strategic real estate will provide a good source of cash flow for the future as their partners in this new venture have an in-depth knowledge of the real estate market and these deals have great potential for future growth. He also said that they hope to continue investing in the Canadian market in the future and they will welcome further opportunities to work with Killam properties again.

Killam’s CEO is Philip Fraser and he also made a statement to say that they were also very happy to be working with KFH who they see to be one of the most progressive Islamic banks in the world and they have no doubt that it will be a very prosperous alliance for both of them. He also said they welcome the opportunity to work with Shariah compliant contracts and systems which can only be highly beneficial to their future expansion.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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