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REAL ESTATE

Huge fines set for constructing extra rooms, makeshift flats on top of roofs

January 14, 2019

Huge fines set for constructing extra rooms, makeshift flats on top of roofs

KUWAIT CITY, Jan 13: The head of the Municipality department concerned with demolishing encroachments on government land and illegal constructions in the Capital Governorate, Eng Abdullah Jaber, said “the construction of any building, such as extra rooms on rooftops, contrary, whether they are made of light building materials (makeshift) or concrete construction before obtaining the approval of the"... Continue Reading

Kuwait to be completed soon

January 7, 2019

Kuwait to be completed soon

The world’s longest bridge, Sheikh Jaber Causeway, linking Kuwait City to Subiyah New Town across Kuwait Bay is set for completion in 2019, reported South Korean media.

Korean company, Hyundai Engineering and Construction (Hyundai E&C) will complete the bridge, six years after winning the $2.6 billion project in November"... Continue Reading

Preatoni Tower Rescued and Now Open For Business

January 7, 2019

Preatoni Tower Rescued and Now Open For Business

Preatoni Real Estate has announced the completion of the Dubai Star project, four years after its initial developer abandoned the multi-million project following the 2009-2010 economic crisis that befell the region.

The 45-storey skyscraper, which is located at the upmarket JLT cluster L has now been renamed Preatoni Tower. It"... Continue Reading

Kuwait-funded 124 housing units spring up across Gaza

January 3, 2019

Kuwait-funded 124 housing units spring up across Gaza

Kuwait has delivered some 124 residential units to Palestinians in the Gaza Strip as part of efforts to reconstruct a central village, the Palestinian ministry of public works said.

Six housing complexes comprised of 124 units financed by Kuwait have been opened, all of which will go to Palestinian families whose lives have been"... Continue Reading

L&T Construction wins GCC power project contracts

January 2, 2019

L&T Construction wins GCC power project contracts

India's top engineering and construction firm Larsen & Toubro (L&T) said one of its key subsidiaries has secured $299 million worth of engineering, procurement and construction (EPC) contracts from the GCC and Asia region.

Annoncing the"... Continue Reading

Symbolic value of Al-Mutlaa city lots cut from KD 5,000 to KD 3,000

January 2, 2019

Symbolic value of Al-Mutlaa city lots cut from KD 5,000 to KD 3,000

KUWAIT: Kuwaiti Minister of Public Works and Minister of State for Housing Affairs Dr Janan Bushehri announced yesterday that the Cabinet has agreed to reduce the symbolic value of Al-Mutlaa city’s residential lots from KD 5,000 to KD 3,000 (from $17,000 to $10,00). The move comes upon the directives of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah. In a press statement"... Continue Reading

Kuwait inks Tunisia road infrastructure project deal

December 31, 2018

Kuwait inks Tunisia road infrastructure project deal

Kuwait Fund for Arab Economic Development has signed an agreement with the Tunisian government authorities for key infrastructure develpment projects in the capital Tunis, said a report.

As per the deal, the Kuwait Fund will provide a loan of KD30 million ($98.4 million) to help finance the Rehabilitation of Rullar Roads Project which involves rehabilitation and asphalting of about 912 km of"... Continue Reading

Public Works Minister underlines commitment to infrastructure plans

December 27, 2018

Public Works Minister underlines commitment to infrastructure plans

KUWAIT: Making sure that proper infrastructure is in place for key residential projects is among the government’s chief priorities, Minister of Public Works Dr Jenan Boushehri said yesterday. The minister’s remarks came in response to a question by a lawmaker, during yesterday’s parliament session, over a residential project planned for Kuwait’s southern suburb of Khaitan. Boushehri,"... Continue Reading

Arzan Wealth Advises on Third Lending Deal under the Real Estate Debt Platform

December 27, 2018

Arzan Wealth Advises on Third Lending Deal under the Real Estate Debt Platform

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 advised on a senior secured loan opportunity in the United States, as part of the recent strategy focusing on investments into debt structures. This third investment under the Real Estate Debt Platform has fixed monthly interest payments"... Continue Reading

KIB sells 4 state properties in public auction

December 26, 2018

KIB sells 4 state properties in public auction

KIB organized a public auction on Wednesday, December 19, for the sale of 15 properties (vacant land) owned by the State of Kuwait represented by the Kuwait Investment Authority (KIA). Held at Safir International Hotel – Kuwait, a total 4 properties were sold at the auction, after completing all necessary legal procedures and contracts to complete the sales transactions.

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