Mar 05 2007 |
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Bahrain bank sells property
BAHRAIN: International Investment Bank , a closely held bank in Bahrain, sold an office block in London's Belgravia for $409m (Dh1.5bn).IIB bought 33 Grosvenor Place with Saudi Economic and Development Company for $280m (Dh1bn) in June 2005, the bank said. "The commercial property market in London has been booming over the past two years," Chief Operating Officer Salah Nooruddin said. He did not say who bought the property.
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