Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- KIC signs USD 300 mln investment contract with Omani club  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 27/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Kuwait News Agency (KUNA)) Kuwait Investment Company (KIC) signed a USD-300-million investment contract with Oman's Fanja Club on Sunday to construct one of the largest investment project in the Gulf.

On behalf of the company, Sheikh Talal Mohammad Al-Sabah signed the contract with Himyar Al-Ismaili, Chairman of Fanja.

"The project, whose ownership will be obtained by the club after 30 years, is worth a total of USD 300 million, and will construct over 13 diverse sports, business, entertainment and other facilities," Sheikh Talal said in a statement.
The project is to be built on the club's land in Seeh Al-Ahmar in the district of Bidbid and will include a five-star hotel, accommodation for sport teams, 60 villas and an area for handball, basketball and volleyball, in addition to a gymnasium, he added.

He said that it will also include a specialized center for water sports, sports medical complex, a cinema and a football academy, as it will be used not only by the Sultanate but also by the Gulf region as well.

In addition, the project will have a spa for men and women, small gardens, various water games' facilities, administrative buildings, stores, bowling hall, football pitches, an eight-hole golf course and tennis courts.

The project will constitute an integrated city that will attract people from all over the world as investors target customers are both in the Sultanate and from outside as well, especially the GCC and European countries, said Sheikh Talal.

KIC carries out a wide range of investment and financial activities, mainly providing a diversified package of local and international investment and financial products, to its local and international consumer base.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help