KIA Gives Real Estate Mandate to Markaz
The Kuwait Financial Centre (Markaz) signed a contract with the Kuwait Investment Authority (KIA) to create and manage a portfolio of property investments with a maximum value of KD 250 million for a 10-year period. This portfolio of property investments is in Kuwait’s real estate market.
Markaz was created in 1974 by Kuwait’s late Sheikh Ali Sabah Al-Salem Al-Sabah after the first oil shock. His objective was to create a financial institution that could move oil wealth into developing Kuwait’s infrastructure and invest the excess overseas to grow.
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