The Bahrain-based International Investment Bank is set to purchase 50% in an $80 million tower to be built in Dubai's Business Bay district, news agencies reported.
The bank will place a portion of this investment with GCC investors, and has already received a warm response, officials stated. The bank's acting chief executive officer, Aabed Al Zeera, added this transaction reflects the bank's strategy of offering its investors a range of Shari'ah-compliant investments that are diversified by asset class and by location.
