Kuwait Finance House (KFH) will manage a $902m fund, as part of the Kuwait Investment Authority's $3.6bn real estate investment project, the Islamic lender said on Thursday.
Kuwait's sovereign wealth fund said on Wednesday it will invest $3.6bn in the local commercial property market, in a liquidity boost to the sector that will help lift plunging prices.
"The five year portfolio will focus on business real estate, as it has been most effected by current economic conditions and therefore is a candidate for achieving better returns," KFH assistant director general Imad Abdullah Al Thaqib said in a statement.
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