June 17th, 2019 | 0 commentsThe value of real estate transactions in Kuwait surged a 33% month-on-month to KWD 385 million ($1.26 billion) in April on the back of the sales of commercial, residential, and investment properties. The number of transactions soared 31% month-on-month in April, the highest level since 2014, recording 819, according to a report released b...
June 11th, 2019 | 0 commentsBusiness partners owe KWD 1.407 million in debts to Kuwait Cable Vision Company, the Kuwaiti firm chairman told Al Rai newspaper. Farah Media Company’s debts owed to Kuwait Cable amounted to KDW 182,000, while ShahrZad Company’s unsettled amounts to the provider of satellite TV stations reached KWD 543,500, along with KWD 682,300 in outst...
May 28th, 2019 | 0 commentsIntegrated Holding Co disclosed that its deputy chairman and CEO Jassim Mustafa Jassim Boodai has sold an equity of 5 million shares in the company’s capital on Sunday. The Boursa Kuwait-listed company did not announce the price of this transaction. It is noteworthy that Boodai owns 24.4% of Integrated Holding’s capital which stands at KW...
May 15th, 2019 | 0 commentsThe National Real Estate Company (NREC) reported a decrease of 19.5%, on an annual basis, during the first quarter of 2019. Profits shrank to KWD 3.63 million ($11.97 million) in Q1-19 from KWD 4.51 million ($14.87 million) in Q1-18, according to a bourse filing on Tuesday. NREC’s total assets stood at KWD 468.8 million by the end of the...
May 14th, 2019 | 0 commentsKuwait-based Tamdeen Real Estate Company is set to complete its KWD 65 million Tamdeen Square project by the end of 2019, the company’s chairman said. The firm is working on finishing the final phase of interior finishes of the residential units in the project’s three towers, Al Seyassah newspaper reported, citing Mashal Al Marzouq. Al Ma...
May 6th, 2019 | 0 commentsThe extraordinary general meeting (EGM) of Al Assima Real Estate Co, a subsidiary of Salhia Real Estate, approved to increase the capital by KWD 30 million. Therefore, Al Assima Real Estate’s capital will become KWD 110 million after the hike. This capital raise will generate an increase in Salhia Real Estate’s investment in Al Assima as...
April 10th, 2019 | 0 commentsKuwait’s Ministry of Electricity on Tuesday announced allocating around KWD 2.6 million to develop seven substations over the coming period, informed sources told Al-Anba newspaper. The seven substations are located in Bayan, Eqaila, Slyl Aljahra, Ministries Complex, Jleeb Al-Shuyoukh, and Khaitan cities, the sources added. -Mubasher
April 8th, 2019 | 0 commentsKuwait-based Specialities Group Holding on Sunday announced that its subsidiary Alghanim Specialities Co signed a KWD 4.25 million contract with Kuwait Port Authority (KPA). The deal involves operating and maintaining bridge cranes and land equipment in Shuwaikh Port owned by KPA, according to a statement to Boursa Kuwait. The agreement w...
March 28th, 2019 | 0 commentsKuwait-based Ajial Real Estate Entertainment began the implementation of Al Andalus project at Hawally district in 2018 at a value of KWD 55 million, the company’s deputy chairman stated. The drilling works of the multi-purpose project, which is set to be completely finished by 2022, have already started, Hamad Mubarak Al Sabah added. On...
March 25th, 2019 | 0 commentsGulf Investment House (GIH) on Sunday said that profits skyrocketed to KWD 12.23 million ($40.35 million) in the fourth quarter of 2018, from KWD 368,000 ($1.21 million) in Q4-17. GIH turned profitable in fiscal year 2018 after generating KWD 13.07 million profits, against KWD 712,170 in losses during 2017, according to a statement to Bou...
