Kuwait's KFH expands China portfolio

Kuwait Finance House announces a $275 million property deal in Shenzhen.
Kuwait Finance House (KFH) has announced a $275 million investment in Hong Kong-developer Nan HaiÆs Peninsula project. Located in Shenzhen, the property development investment is part of the Islamic bankÆs strategy to expand its presence in East Asian markets.

The largest Kuwaiti bank by market value, KFH announced over the weekend that it will invest in the $3 billion Peninsula project through its Asia Fund 2.

The Peninsula project is a five-phase, 300,000 square metre development by Nan Hai. Adjacent to ShenzhenÆs Western Passage border crossing with Hong Kong, the Peninsula is expected to benefit from its location along major transportation routes between the Mainland and Hong Kong. The first phase opened in 2006.

KFH first expanded into East Asia in 2006 when it opened KFH (Malaysia). Its expansion into China reflects KFH chairman and managing director Bader Abdul Muhsen Al-MukhaizeemÆs belief that East Asia is ôthe region with the most promising markets in the world and the highest growth potential and the best investment opportunitiesö.

Since 2006, KFH has invested in projects in China, Indonesia, Malaysia, Singapore and South Asia.
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