Mubasher: The board of International Financial Advisors (IFA) has approved to invest AED 37.695 million (KWD 3.089 million) in a branch of the UK-based Yotel hotel brand in Dubai’s Palm Jumeirah.
Approved by the Risk Management Committee, IFA's investment in the four-star hotel property, which is under construction, will be a 10.5% share of equity, according to a bourse filing on Wednesday.
IFA will also invest AED 20.858 million (KWD 1.709 million) in Palm Jumeirah-based Strive Services Group, an integrated property services provider.
