Friday, May 12, 2006

Foreign Investment: Kuwait company planning $1.2 billion project in Jordan

Kuwait's Bayan Investment Company, is planning a $1.2bn project in Jordan as part of an expansion drive into undervalued Arab markets.

Reuters reports that Chairman and Managing Director Faisal Al Mutawa, said the company hoped to finalise within a month a deal with Jordanian officials to get a license to develop large tracts of prime property in the capital to construct four large commercial and residential projects including hotels and tower blocks.