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Kuwait's Al Madina invests millions in UAE property

Kuwaiti Islamic investment firm Al Madina for Finance and Investment agreed to purchase real estate projects worth Dh3.4 billion on Sunday.

  • Agencies
  • Published: 12:30 July 20, 2008
  • Gulf News

Kuwait: Kuwaiti Islamic investment firm Al Madina for Finance and Investment agreed to purchase real estate projects worth Dh3.4 billion on Sunday.

According to an official statement on the Kuwait bourse website, the firm acquired four towers in Abu Dhabi.

Al Madina Real Estate Development Co bought three towers for Dh2.9 billion, while Sarh Al Madina Real Estate Co, in which Al Madina has a 50 per cent stake, bought a property for Dh508 million.

The projects will be delivered in 2011.

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