Mubasher: Rasameel Investment Co. has acquired two student housing properties in the United Kingdom at a total value of GBP 38 million (KWD 16 million).
Located in Exeter, the first property, which amounts to GBP 20 million (KWD 28.38 million), comprises 219 rooms, Kuwaiti newspaper Alrai reported, citing the company as saying that the Exeter investment will bring in an annual net cash yield of 7% to be distributed quarterly to investors.
The second property, located in the heart of Warwickshire and comprising 187 rooms, was acquired for GBP 17.1 million (KWD 24.26 million), Rasameel added.
Established in 2006 as a Kuwaiti Shareholding Company K.S.C. (closed), Rasameel Investment Co. has an authorized and paid-up capital of KWD 18 million.
