KEF to invest $272mn into UAE and Indian projects

Investments include hotel, hospital and manufacturing

KEF Holdings, a UAE based diversified conglomerate, announced on Monday that it planned to investment more than $272mn into projects in the UAE and India.

A multi-tiered holding company operating out of the Dubai International Financial Centre, KEF Holdings has interests across eight verticals, including infrastructure, healthcare, hospitality, education, investments, metals and sports, a report in Gulf News, a Dubai based newspaper, said.

The projects KEF will be investing in include a five star hotel, a 500 bed super-speciality hospital, an integrated manufacturing facility with pre-cast concrete technology, factories for making kitchens, toilets, doors and windows, said Faizal E Kottikollon, chairman of the company.

Advertisement

Further investments will be in a liberal arts university, organic farming projects and a tennis academy complex in the UAE.

Kottikollon said that the pre-cast concrete manufacturing facility would be the first project in the pipeline.

The 500 bed hospital, which is being built as a joint venture between the PeeKay Group, a Kerala based business group, and Dr Ali Faizal, a cardiologist based in Kozhikode, will require an investment of $91mn. It will be built on 30 acres of land and will have a modern convention centre with a capacity for 3,500 people. It will require more than $154.9mn in investment.

The factories will involve an investment of $54.8mn and will be built in Kochi and other cities. They will have integrated manufacturing facilities with pre-cast concrete technology.

Combined, the three projects are expected to create more than 10,000 jobs.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Advertisement