Kuwait Capital Markets Authority lists first Reit Fund on bourse

2020-02-08 07:05:10

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Feb 8 (KUNA) -- Kuwait's Capital Markets Authority (CMA) approved Saturday, a request to list (KFH Capital Reit Fund) on Kuwait bourse, as the first real estate yield-generating fund.
The Authority said in statement that this approval brings a new investment product that allows investment in real estate assets and generates a periodic income on the fund's assets to benefit from the income of these properties by up to 90 percent of operating income.
The approval came after the request met relevant requirements and criteria, the statement added.
In September 2019, with a fixed capital of KD 100 million (USD 330 million), KFH Capital, the investment arm of Kuwait Finance House Group (KFH), has announced the launch of "KFH Capital Reit Fund", the first local real estate investment trust.
This comes as part of KFH Capital's efforts to diversify investing opportunities for its customers, offering new tools that generate sustainable yields as well as strengthen the company's position as the best investment destination in the region.
The fund invests mainly in income-generating real estate assets in various sectors in Kuwait including the investment, commercial and industrial, sectors. Equipped with professional team with long experience in the local real estate market. (end)
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