NO. 40


Financial and Banking News

Capital Markets

Kuwait Launches KD20Mn Mutual Property Fund

As part of its plans to privatize the economy, Kuwait has launched the RealEstate Investment Fund, a KD20mn ($67.6mn) real estate mutual fund that is opennot only to Kuwaitis, but to citizens of the Gulf Cooperation Council states andresident foreigners as well. The fund is managed by the state-owned al-TamdinReal Estate Company (TREC) and is the first opportunity for non-Kuwaitis...