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REAL ESTATE

MP questions banned housing companies

November 11, 2019

MP questions banned housing companies

KUWAIT: MP Yousef Al-Fadhalah yesterday demanded in a question to Minister of State for Housing Affairs Jenan Bushehri names of companies who carried out projects in Sheikh Jaber Al-Ahmad, Sabah Al-Ahmad and Northwest Sulaibkhat and some problems were discovered in the projects. The lawmaker asked about the names of companies that have been barred from taking part in ministry housing projects, the reasons"... Continue Reading

ARZAN WEALTH Successfully Sells Another Property from “Single Tenant Portfolio” in USA

November 11, 2019

ARZAN WEALTH Successfully Sells Another Property from “Single Tenant Portfolio” in USA

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has successfully advised its clients on the sale of a fourth property (“The Property”) from the Single Tenant Portfolio in USA.

The Single Tenant Portfolio"... Continue Reading

Kuwait wins int’l property ownership case

November 7, 2019

Kuwait wins int’l property ownership case

KUWAIT CITY, Nov 6, (KUNA): An international court has issued a verdict in favor of Kuwait regarding a property ownership case, a senior law official announced Wednesday. The International Centre for Settlement of Investment Disputes (ICSID) dismissed the lawsuit filed by a foreign company against Kuwait, Chairman of Fatwa and Legislation Department Advisor Salah Al-Masad told Kuwait News Agency (KUNA).

"... Continue Reading

Automobile parts dealers must present warranties

November 7, 2019

Automobile parts dealers must present warranties

KUWAIT: Minister of Commerce and Industry Khaled Al-Roudhan yesterday issued a decision on regulating the second-hand automobile spare parts market, by which vendors are mandated to offer warranty for the parts they sell to customers.


In other news, the Hawally committee at the Municipal Council yesterday approved a proposal"... Continue Reading

Kuwait lost KD 1 billion in state properties

November 5, 2019

Kuwait lost KD 1 billion in state properties

KUWAIT CITY, Nov 4: The State Property Administration of Ministry of Finance is unable to retrieve and develop many state properties and shopping malls worth around KD one billion due to the bureaucracies affecting transactions for its retrieval and development passed through at Kuwait Municipality, reports Al-Qabas daily.

According"... Continue Reading

Contracts worth KD 55.08m signed over five days

November 4, 2019

Contracts worth KD 55.08m signed over five days

KUWAIT CITY, Nov 3: The total real estate transactions contracts signed between Oct 6 and 10 last, were worth about 55.08 million dinars, according to statistics published on the website of the Department of Real Estate Registration at the Ministry of Justice, reports Al-Rai daily.

The statistics showed that the period witnessed"... Continue Reading

Select Group announces completion of Studio One in Dubai Marina

November 3, 2019

Select Group announces completion of Studio One in Dubai Marina

Select Group, UAE’s leading real estate developer, has begun handover of its premium urban development Studio One in Dubai Marina. Situated in the heart of the up and coming west-end of the Dubai Marina, Studio One is located within close proximity to the Bluewaters Island and next door to Wyndham and Rove hotels with a wide array of restaurants, supermarkets and salons nearby.

With"... Continue Reading

Expo 2020 buzz adds to positive traction in UAE realty market

November 2, 2019

Expo 2020 buzz adds to positive traction in UAE realty market

Less than a year ahead of the World Expo 2020 Dubai, the buzz of one of the biggest global events is already being experienced by the market players across the sectors, particularly the UAE’s real estate industry, according to an expert.

“The upcoming Expo 2020 is adding to the business confidence of real estate investors,"... Continue Reading

Dar Al Arkan raises $600m in 5-year sukuk funding

October 30, 2019

Dar Al Arkan raises $600m in 5-year sukuk funding

Saudi Arabia's leading listed real estate developer Dar Al Arkan has successfully raised $600 million under its sukuk (Islamic bond) programme.

Established in 1994, Dar Al Arkan has a current market capitalisation of about SR13 billion ($3.4 billion) with assets of SR27 billion ($7.1 billion). It is rated B1 by Moody's with a stable outlook.

The five-year sukuk was issued"... Continue Reading

Tamdeen Group reveals plans to build new $820m mall in Kuwait

October 29, 2019

Tamdeen Group reveals plans to build new $820m mall in Kuwait

Al Khiran Hybrid Outlet Mall will offer over 300 stores in heart of Sabah Al Ahmad Sea City. Tamdeen Group has launched Kuwait’s first hybrid outlet, leisure and lifestyle destination in the south of the country.

Al Khiran Hybrid Outlet Mall, an $820 million (KD250m) development, will be spread across 350,000 square metres"... Continue Reading

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