Mubasher: A subsidiary of Al Imtiaz Investment Group has invested in a property valued at $4.88 million (KWD 1.48 million) in the US.
The investment is an office building situated in California’s Roseville city, according to a filing to Boursa Kuwait on Monday.
The subsidiary is expected to realise annual cash returns of 7%, approximately, as well as an internal rate of return (IRR) of 8.5% once it exits the nine-year investment.
The parent company's share will be calculated based on the net profit from this investment which will be equivalent to its 67.76% ownership in the subsidiary.
