Kuwait-Mubasher: Salhia Real Estate said that its 100%-owned subsidiary, Salihya International Investment, was granted approval and license required for establishing the Beorma Quarter project in UK.
The company has notified the Capital Markets Authority (CMA) with details of the first stage of the project which will be completed over three stages.
Salhia said that the estimated cost for the second and third stages is £146.5 million ($67.5 million).
Financing the project will be from the company’s portfolio as well as local banks in UK.
Beorma Quarter is a multimillion pound 27-storey city-within-a-city development based on Birmingham, UK.
