Al Imtiaz Investment’s unit invests in $5mln asset in US

The associate may realise cash returns of 25.64% annually


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 25.64%, approximately, as well as an internal rate of return (IRR) of 28.82% 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.

Source: Mubasher

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