Kuwait Finance House (KFH) the world’s leading Islamic bank, has taken a major step today in its strategic transformation program with the announcement of KFH Real Estate company, a dedicated fully owned investment vehicle for the real estate asset class.
Mr. Shaheen Al-Ghanim, KFH’s General Manager of International Banking and Acting Chief Investment Officer highlighted KFH’s investment vision and insight through the announcement of KFH Real Estate; emphasizing on the importance of this announcement, as it marks a new beginning for KFH and its potential contribution to the global Islamic financial services industry.
“The launching of KFH Real Estate company reflects KFH’s overall strategy and it’s one of the investment initiatives that will follow with similar dedicated investment vehicles. All KFH’s real estate investment activities shall be consolidated and managed by KFH Real Estate company, locally, regionally, and internationally.
Moreover, the launching of KFH Real Estate company emphasizes the importance of this asset class (real estate investments) and its paramount role as a cash generating asset and its attractive risk adjusted return”, Al-Ghanim said.
He added, “KFH shall leverage its extensive experiences and capabilities in real estate investments to achieve market growth and benefit from the advantages of the economies in which it operates, for optimal wealth generation for its clients, shareholders and partners.”
KFH’s fully-owned Nakheel United Real Estate company name has changed to KFH Real Estate company in the recent Annual General Meeting (Ordinary and Extraordinary); in addition a new board of directors have been elected/appointed.