KUWAIT (Reuters) – Islamic lender Kuwait Finance House is close to winning a real estate deal in Bahrain worth $1.5 billion, daily al-Rai said on Sunday.
The project will include the constructing of malls, hotels and clubs on an area of 5 square kilometers on a build-operate-transfer basis for 50 years, the newspaper said in an unsourced report.
Separately, the head of KFH’s international investment department, Emad al-Monee, told the paper the firm was preparing a $100 million financing deal in Singapore.
The project would fund building a petrochemical plant with the government of Singapore and an Indian-Singaporean joint-venture, said al-Monee.
Separetly, al-Seyassah daily said in an unsourced report that an unidentified Saudi investor is in talks to buy a 10 percent stake in KFH.