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22 June, 2015

Agility unit to invest $225 mln in Abu Dhabi mall project

Agility said on Monday a unit of the Kuwaiti logistics firm had agreed with a real estate subsidiary of National Real Estate Company to invest $225 million in a shopping mall in Abu Dhabi.

DUBAI, June 22 (Reuters) - Agility said on Monday a unit of the Kuwaiti logistics firm had agreed with a real estate subsidiary of National Real Estate Company to invest $225 million in a shopping mall in Abu Dhabi.

The mall will be a partnership project in which investment from United Projects Company for Aviation Services (UPAC) may reach $225 million in the coming three years, it said in a statement to the Dubai bourse.

The financial impact of the investment on the company will be announced during phases of the project, Agility said.

No details of the project were given.

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UPAC manages commercial space in Kuwait and real estate in Kuwait International Airport, according to Agility's website.

(Reporting by Nadia Saleem; editing by Jason Neely) ((nadia.saleem@thomsonreuters.com; +97143664256; Reuters Messaging: nadia.saleem.thomsonreuteres@reuters.net))

Keywords: AGILITY MALL/