Kuwait’s C Seventeen is planning to invest in a new Dubai residential complex:Kuwait-based C Seventeen, a subsidiary of IFA Hotels and Resorts, issued a “declaration of desire” letter to develop a new AED 858 mn housing project in Dubai, IFA said in a disclosure to the Dubai Financial Market (pdf).

The Kuwaiti group likes Dubai for investment: IFA Hotels and Resorts’ global property portfolio already includes eight estates in Dubai, including Fairmont The Palm and Movenpick Hotel Jumeirah Lakes Towers. In line with its company profile, the group will continue to explore emerging markets in Europe, Asia, and Africa for strategic acquisitions and partnerships.

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