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

Al Imtiaz Investment’s unit invests in $5m asset in US
The associate may realise cash returns of 25.64% annually
ALIMTIAZ
ALIMTIAZ
-2.67% 47.30 -1.30

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.