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Excon, Excon 2011 Biggest Construction Equipment Trade fair India.

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Kuwait Finance, UDR form real estate venture

7/18/2009 1:57:00 PM

Kuwait, August (EPC News): Kuwait Finance House and UDR Inc, a US real estate investment trust, will invest around $450 million in residential real estate in the United States.

The Persian Gulf country’s largest Islamic bank will finance 70% of the investments. The venture will buy assets with a minimum value of $20 million in major US cities, and aims to invest fully in two years, Kuwait Finance House Chief Executive Officer Mohammad Al- Omar said.