Kuwait Finance invests in China realty project

Kuwait Finance House (KFH), the Gulf state's biggest bank by market value, said on Saturday it was investing $275 million (Dh1 billion) in a real estate project in China as part of plans to boost its exposure to Asia.

KFH has signed a deal with China's Nan Hai Corporation to invest in the $3 billion Peninsula real estate development through its Asian Fund 2, the Islamic bank said in a statement.

"This comes as a step from KFH to cement its investments in this vital spot of the world," the lender said.