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VCBank, UIB launch Sakani
- Bahrain: Sunday, July 22 - 2007 at 07:48
Bahrain's Venture Capital Bank and United International Bank have launched a shariah compliant real estate development company, Sakani, which will focus on residential housing projects aimed at low and middle income groups in Bahrain, Saudi Arabia and the UAE. A private offering to investors in the GCC is expected to raise $100m for the new firm, while the VCBank and the UIB will commit $10m each as their stake.
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Jonathan Sheikh-Miller, Deputy EditorSunday, July 22 - 2007 at 07:48 UAE local time (GMT+4)
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