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KIA creates executive cmte for portfolio Real Estate Investment Authority

KUWAIT, Aug 10 (KUNA) -- Director of the Real Estate Department at Kuwait Investment Authority (KIA) Khaled Al-Hassoon announced Wednesday the creation of an executive committee for the portfolio Real Estate Investment Authority.
Al-Hassoon told the press that the committee consisted of members from KIA and the Real Estate Authority, adding that meetings were held to launch the committee's operation. The Real Estate Investment Authority is ran by Kuwait Finance House (KFH).
The Kuwait Investment Authority is Kuwait's sovereign wealth fund (7th place SWF Institute Ranking 2010), managing body, specializing in local and foreign investment. It was founded to manage the funds of the Kuwaiti Government in light of financial surpluses after the discovery of oil.
Today, KIA manages the Kuwait General Reserve Fund, the Kuwait Future Generations Fund, as well as any other assets committed by the Ministry of Finance. (end) mka.gta KUNA 101907 Aug 11NNNN