Kuwait Finance House is setting up a joint venture with US real estate investment company UDR, to buy high income property in the United States to tap lower asset prices.
The joint venture will seek to acquire high income residential real estate in major cities in the United States with total investments of up to US$450 million, Kuwait Finance said in a statement on Saturday.
KFH's will have a 70% stake in the joint venture while UDR will have a 30% share.
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