1/9/2009

KFH-Turkey realty fund posts a ten percent profit

Arab Times Online - Kuwait Finance House (KFH) announced that its real estate fund in Turkey has reached a capital of USD 14,25 million and distributed a ten percent annual profit for its shareholders. The Private Banking Department Manager Talal Al-Nesf said that the fund invests in renting warehouses with an area over 60,000 m2, and is bound to renting contracts with logistic corporations with a cover not less than five years. Al-Nesf stated that the fund’s real estate is located near the Ataturk International Airport, a prime location since it lies at the intersection of main roads, which makes it special and convenient for the transportation and storage companies that rent its real estate. He rendered the fund’s returns and its good reserves a solid proof of the strategy and accurate follow up of the Turkish market’s needs.