EU – Baltic States, Investments, Latvia, Real Estate
International Internet Magazine. Baltic States news & analyticsThursday, 02.09.2010, 22:24
Prince Charles and Latvian investor take part in Kuwait real estate joint venture
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The executive director of Jana indicated to the Kuwait news agency KUNA that the name Urban FP had been chosen for the new company, and that it would be a joint venture between Prince Charles' non-profit urban development institute, a Latvian investor, and Jana.
Information in LETA's possession indicates that the investor from Latvia is the well-known banker and joint owner of the finance company Belokon Holdings Valerijs Belokons.
As Sabaha revealed that the joint venture will mostly concentrate on environmentally friendly and sustainable projects.
"Before the global financial crisis, real estate companies mostly concentrated on generally accepted building practices which caused harm to society and the environment," said as Sabaha.
The global crisis has forced companies to concentrate on sustainable projects and turn away from practices used up to now.
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