The purchase was done via a fund managed by Al Tharwa Investments on the 5th of February, 2008.
Salhia perceives this investment as a long-term and strategic in nature. Furthermore, this holding will allow for a closer and more interactive working relationship between both companies.
Mr AbdulAziz Al-Nafisi –Investment Group Head of Salhia Real Estate Company said, “TII’s core business is gaining substantial momentum in both Asset class and geographical spread. Moreover, there are unique synergies between both companies that we plan to fully exploit in due course.”
TII is a Kuwaiti shareholding company, established in 1992 by institutional and private investors, with shareholders’ equity of US$ 72 million. The Company was listed on the Kuwait Stock Exchange in 1996, and subsequently on the Bahrain Stock Exchange.
TII initially focused on providing entrepreneurs, corporations, asset managers and distributors of financial services with the expertise, knowledge and tools to efficiently access the fast-expanding Islamic market. In just a few years, TII has emerged as one of the leading investment banks in the Gulf region, and the world’s leading wholesale Islamic investment bank.
In recent years TII has embarked upon an evolution from the traditional specialization in investment banking into a broad-based regional financial services company. It is believed that the non-bank financial services industry in the MENA region offers exceptional potential for growth and expansion.
Wednesday, February 6- 2008 @ 12:40 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.