Kuwait-Mubasher: Dimah Capital Investment and Al Bilad Real Estate Investment, subsidiaries of Al Imtiaz Investment Group, acquired a hotel property in Austin, Texas, USA.
The deal was sealed through a partnership with USA’s Stonebridge Company, and is expected to generate 8.5% of its value in annual retune which will be distributed monthly, the company said in a bourse statement. Also, 13% internal rate of return will be generated at sale time.
The investment is expected to cover a period up to five years with a Sharia-compliant structure.
Al Imtiaz noted that the financial impact cannot be determined yet.
