Kuwaiti real estate fund makes first deal

Kuwait's Global Investment House has revealed its Global Asia Real Estate Fund has made its first acquisition, buying a shopping mall in the city centre of Weifang in Shangdong Province, China.

Kuwait's Global Investment House has revealed its Global Asia Real Estate Fund has made its first acquisition, buying a shopping mall in the city centre of Weifang in Shangdong Province, China.

The fund conducted the investment with two joint venture partners, Singapore's Titan Capital and Pan China, with the total value of the investment being US $8.8 million.

It is hoped the investment will provide gross returns in excess of 25%.

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