Baitak Capital Investment Company, affiliated with Kuwait Finance House (KFH), has purchased an office tower in the U.S. state of New Jersey at a cost of $165 million, the official KUNA news agency reported.

    An investment fund belonging to Baitak has acquired tech giant Panasonic's official headquarters in New Jersey, equipped with many special features and an "excellent location," the company said Tuesday in a statement.

    Baitak's CEO Abdulaziz Al-Marzouq said the building comprises a sprawling office tower with 12 floors, stretching on 337,543 square meters, adding that the company is keen on making more lucrative investments.