Saturday 4 April 2009

KFH to open investment branch in Riyadh

The Kuwait Finance House (KFH) is set to open an investment bank in the Saudi Kuwait Finance House in Saudi Arabia with a capital of 500 million Saudi riyals (USD 133.3 million), a KFH official said here Saturday.

The new office is part of the KFH's strategy to expand investments in the Gulf region, particularly Saudi Arabia which is the largest and fastest growing market in the Gulf, Abdelnaser al-Subeeh, assistant director-general of the KFH for the investment sector.

The Saudi market has promising opportunities in the field of real estate development and mega projects in light of the country's increasing public spending, which is expected to grow up by 30 percent this year, he said.

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