REAL ESTATE

November 19, 2018

KUWAIT CITY, Nov 18, (KUNA): Kuwait and China signed a memorandum of understanding Sunday on forming a mechanism for development of cooperation for Silk City and the five Kuwaiti islands. The MoU signing ceremony was held at the National Development and Reform Commission headquarters in Beijing, China, Kuwaiti Ambassador to China Samih Hayat told KUNA.

Head"... Continue Reading

November 15, 2018

KUWAIT: United Building Company K.S.C.C (UBC), a subsidiary of United Real Estate Company K.S.C.P (URC), one of the leading real estate development company in the Middle East and North Africa, has announced signing a contract for KD75 million for the construction, completion and maintenance of 40 residential buildings (720 apartments) and infrastructure works for the investment suburb of Sabah Al-Ahmed City.

November 15, 2018

KUWAIT: Tamdeen Group, Kuwait’s leading mixed-use property developer, won the “Design and Development” gold award for the innovation in “Al-Kout Mall” in the “New Development” category in shopping malls. Al-Kout Mall, one of Al-Kout Project’s six bespoke experiences, was awarded during the Middle East and North Africa Retail and Shopping Center Awards 2018."... Continue Reading

November 15, 2018

KUWAIT: National Real Estate Company (NREC), which is developing properties valued at over $2 billion in the Middle East and North Africa region, today announced its financial and operational earnings for the first nine months of 2018, announcing an operating revenue of KD 18.42 million, and an EBITDA of KD 17.82 million, up 16.54 percent from the first nine months of 2017.

The"... Continue Reading

November 15, 2018

Azizi Developments, one of the leading private developers in the UAE, has announced a construction update for its upcoming AED 470 million project in Dubai Healthcare City, Azizi Aliyah Residences.

Construction is almost complete with the conclusion of the mobilisation and structure phases, while MEP works and finishes are well"... Continue Reading

November 14, 2018

Indeed, the UAE’s banking sector has paved the way to help hundreds of thousands of people accomplish their aspirations of owning a ‘dream home’, which has fostered their sense of belonging to the nation. Across the world, evolved and mature property markets are invariably backed by a strong home finance sector. The UAE has created robust fundamentals for the growth of both sectors through"... Continue Reading

November 12, 2018

KUWAIT: Real estate sales in the third quarter registered KD 832 million, up 7.5 percent from 2Q18 and 81 percent y/y. This was the third consecutive quarterly rise in sales this year and the fourth consecutive rise since 3Q17, reflecting a steadily improving trend. Although higher sales in 2018 have been largely driven by increased activity, the rise in 3Q18 was due to an increase in the average transaction"... Continue Reading

November 11, 2018

National Real Estate Company (NREC) said it has won approval from shareholders to convert KD31-million ($101.7 million) loan taken from Agility Investment Holding Limited Company into 272.8 million shares in the company's share capital at the nominal value of 100 fils per share and share premium.

Agility Investment Holding is a subsidiary of Agility Public Warehousing Company.
... Continue Reading

November 8, 2018

United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company based in Kuwait, has registered a net profit of KD2.5 million ($8.2 million) for the third quarter, up 2.4 per cent over last year.

The company’s net profit during the first nine months surged 10 per cent to KD7.58 million compared to last year.

On the solid"... Continue Reading

November 8, 2018

Advanced Construction Technology Services (ACTS) said it has started a large scale quality control and testing operation at the Kuwait International Airport – The New Terminal Project with a hitech laboratory spanning over 280 sq m, another 1000 sq m for curing, offices and storage area in addition to a team of more than 50 engineers, concrete technologists, inspectors and technicians.

"... Continue Reading