(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, July 24 (KUNA) -- KAMCO Investment Company has agreed to acquire the General Electric Company's (GE)) new U.S. Global Operations Center, through the Carter real estate investment firm, at a cost of roughly USD 113 million.
The property acquired by KAMCO is located in the heart of the city of Cincinnati's business district and stretches on 104 square meters in a highly accessible and strategic location, said KAMCO's CEO Khaled Fouad in a press statement on Sunday.
Moreover, Fouad noted that the purchase would provide lucrative investment opportunities expected to yield net cash returns of 6% during the investment period.
"This is yet another illustration of KAMCO's prominent role in identifying and structuring investments in quality durable assets that provide periodic fixed income cash flow streams," KAMCO's CEO added.
GE is a global digital industrial company headquartered in Connecticut and was established by Thomas Edison in 1892, with an over 330,000 strong workforce.
KAMCO Investment Company is a premier investment company based in Kuwait and is regulated by the Capital Markets Authority, with one of the largest private sector AUMs in the region. Established in 1998 and listed on the Kuwait Stock Exchange (KSE) in 2003, KAMCO is a subsidiary of United Gulf Bank (UGB). (end) tb.nam