BBK-Markaz US fund nets good returns
Manama, July 5, 2011
Bank of Bahrain and Kuwait (BBK) said the bank has seen its BBK-Markaz-I US Industrial Realty Fund registering total returns of 75 per cent since its launch in 2002.
BBK-Markaz-I was a real estate investment project established by BBK and Kuwait Financial Centre to provide investors with the most lucrative and successful transactions in real estate investment.
Markaz and BBK raised approximately $43.3 million to acquire a portfolio of distribution warehouses in the US.
"BBK-Markaz-I's investment accomplished a superior performance, portrayed in a series of successful activities," said BBK chief executive Abdulkarim Bucheery.
"Over the life of the fund, the average annual return (IRR) was 9 per cent, while it posted a 17 per cent profit on funds capital, giving investors a total of 75 per cent return during the life of the fund including dividends.
"BBK is committed to providing a complete and innovative range of investment services, providing investors with outstanding financial returns," he added.
BBK-Markaz-I was one of the most promising investment opportunities in the real estate sector which offered decent returns in the tough real estate environment in the US spread over seven states.
It proved resilient to the sharp correction in the real estate sector that started in 2007.-TradeArabia News Service