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Gulf investors, Moroccan venture
- Bahrain: Sunday, December 17 - 2006 at 08:09
Bahrain's Real Capita and Morocco's Jet Asset Management have formed House Invest, which is to spend $400m on social housing projects in Casablanca, Tangier, Agadir and Marrakech over the next four years, reported Reuters. RealMaroc, a fund that includes investors from Saudi Arabia, the UAE and Kuwait, will acquire 90% of House Invest's capital, with the remainder held by Real Capita and Jet. House Invest aims to build 22,000 homes.
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Jonathan Sheikh-Miller, Deputy EditorSunday, December 17 - 2006 at 08:09 UAE local time (GMT+4)
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This article was updated on Sun Jan 14 2007.
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