SWEDEN - KFH considers investment in Scandinavian countries - Sweden key market: Al-Ghannam

Al Subeih seen with Swedish representatives and KFH employees.

KUWAIT CITY, Jan 26: AGM for Investment Sector at Kuwait Finance House (KFH) Abdul Nasser Al-Subeih said that the international partnerships that KFH establishes in the field of real estate investment is one of the main sources for revenues for KFH clients, and noted that the success achieved by Swedish real estate portfolio known as TRESAB three years ago, which is evident by its net profit KD 43 million. The deal was orchestrated by Leimdorfer Real Estate Company, under the supervision of KFH team that is specialized in international real estate.(source)

During a meeting with the company’s representatives, Al-Subeih stressed that strengthening the relations and partnership with the company is pivotal, since it is a leading company in orchestrating real estate deals in Scandinavia, where the total value of its deal last year reached KD 700 million.

Moreover, the International Real Estate Department Manager at KFH Ali Al-Ghannam stated that the Swedish real estate market boomed after a year of its drop as a result of the global financial crisis, especially that Sweden is a key market in northern Europe, in addition to the fact that its laws and regulations encourage investors.

He mentioned that the Swedish economy and Finland have the best economies, where the national domestic product of Sweden, Finland, Denmark, and Norway reached EU 17 billion. He revealed that KFH has real estate business in the United States and Canada, where KFH is warmly welcomed there.

It is worth noting that the portfolio that KFH has been investing in from 2002-2007 consisted of 12 real estates in Stockholm and other major cities, such as post office centers rented from Posten Company. The portfolio was managed by Aberdeen Property Investors, which was sold before the financial crisis.

KFH’s competent international real estate investment team managed to supervise the portfolio’s phases and achieved 27 percent returns over five years.

The meeting was attended by Anwar Al-Yehia, Abdullah Al-Bader, Mohammed Al-Thaqeb, Louise Richnau, Erik Eliasson, and Mikko Iivonen.

Source : http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/164850/reftab/73/t/KFH-considers-investment-in-Scandinavian-countries/Default.aspx - Jan 28, 2011