Kuwait: Real estate investments boost profits of IFA
The General Assembly of the IFA decided on Monday to raise its capital by 50 percent or to KD 44.9 Million from KD 29.9 million, by way of allocation of bonus shares at the rate of 50 shares per 100 shares held by the shareholders on record.
Last year, the company's profit growth was generated by adoption of two strategies first real estate investments that is hotels, resorts that hinge on geographic distribution and second financial investments relevant to management of assets, funds, portfolios and direct investments, Kuna reported.
- IFA Hotels & Resorts and Kuwait Real Estate close US$315 million deal for largest hotel to open in NYC this year
- IFA Hotels and Resorts Company to set up IFA Real Estate
- IFA increases its capital to KD 44.9 million
- IFA achieves 209 per cent increase in profits for first nine months of 2005 compared to same period last year
- Kuwait Financial Center Real Estate Fund recommendS distribution