Mubasher TV
Contact Us Advertising   العربية

Kuwait's IFA to invest AED 38m in Yotel's branch in Dubai Palm Jumeirah

Kuwait's IFA to invest AED 38m in Yotel's branch in Dubai Palm Jumeirah
IFA's investment will be a 10.5% share of equity
IFA
IFA
1.85% 385.00 7.00
Default Company
7204.B
0.00% 0.00 0.00

Mubasher: The board of International Financial Advisors (IFA) has approved to invest AED 37.695 million (KWD 3.089 million) in a branch of the UK-based Yotel hotel brand in Dubai’s Palm Jumeirah.

Approved by the Risk Management Committee, IFA's investment in the four-star hotel property, which is under construction, will be a 10.5% share of equity, according to a bourse filing on Wednesday.

IFA will also invest AED 20.858 million (KWD 1.709 million) in Palm Jumeirah-based Strive Services Group, an integrated property services provider.