Agility plans $225m investment in UAE mall

25/06/2015 00:52 AST

Kuwaiti logistics firm Agility said one of its subsidiaries has reached an agreement with National Real Estate Company to invest $225 million in a shopping mall in Abu Dhabi, UAE.

The mall will be a partnership project in which investment from United Projects Company for Aviation Services (UPAC), an Agility unit, may reach $225 million in the coming three years, it said in a statement to the Dubai bourse.

The financial impact of the investment on the company will be announced during phases of the project, Agility said.

UPAC manages commercial space in Kuwait and real estate in Kuwait International Airport, according to Agility's website.


Reuters

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