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.
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.
