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REAL ESTATE

Bid to complete real estate market regulation, eliminate manipulations

March 18, 2019

Bid to complete real estate market regulation, eliminate manipulations

KUWAIT CITY, March 17: The Minister of State for Commerce and Industry, Khalid Al-Roudhan, has issued a decree establishing the Real Estate Broker’s book (log/register) electronically in an effort to complete the regulation of the real estate market and eliminate the manipulations that occur in the market, reports Al-Rai daily.

The"... Continue Reading

BAI Announces Its 2019 Global Innovation Awards are Open for Submissions

March 15, 2019

BAI Announces Its 2019 Global Innovation Awards are Open for Submissions

(AETOS Wire)-- BAI, a nonprofit independent organization that delivers the financial services industry’s most actionable insights, announced today the BAI Global Innovation Awards are now open for submissions. Nominations will be accepted through Friday, April 26, 2019. Winners and finalists will be announced this summer. Each year, hundreds of financial institutions from around the world submit nominations to achieve recognition from the BAI Global Innovation Awards. The program is a year-round community and content platform that recognizes the industry’s most innovative products, services, business processes and organizations worldwide. Now in its ninth year, past winners include Fifth Third Bank, USAA, CaxiaBank, Emirates NBD, Ping An Technology, Nusenda Credit Union and more. The nomination form is available at BAIGlobalInnovations.com....... Continue Reading

Kuwait Cement Company begins marketing of Oil Well Cement

March 14, 2019

Kuwait Cement Company begins marketing of Oil Well Cement

KUWAIT: Kuwait Cement Company (“KCC”) has announced the commencement of marketing of the Oil Well Cement, and supplying its first delivery on 13/03/2019 to National Petroleum Services Company (NAPESCO). KCC started production of Oil Well Cement locally in its plant located in the eastern Shuaiba industrial area after the company obtained the API Monogram issued by the American Petroleum Institute"... Continue Reading

NREC reports a net profit of KD 10.8m for 2018

March 13, 2019

NREC reports a net profit of KD 10.8m for 2018

KUWAIT: National Real Estate Company (NREC), which is presently developing properties valued at over USD 2 billion in the Middle East and North Africa region, today announced its financial and operational earnings for the year ending December 31, 2018, recording an operating revenue of KD 21.6 million, and an EBITDA of KD 25 million, up 22 percent from the previous year.

The"... Continue Reading

Sheikh Jaber Bridge prepped to be open to the public

March 13, 2019

Sheikh Jaber Bridge prepped to be open to the public

The Director of the Sheikh Jaber Al-Ahmad Bridge Project Engineer Mai Al-Mis’id said the bridge will soon be opened for vehicular traffic.

She told the daily word is being awaited from the concerned authorities with regards to the opening of the bridge but expected it to happen between end of March or early April.

... Continue Reading

Emaar keen to tap blockchain technology potential

March 12, 2019

Emaar keen to tap blockchain technology potential

UAE developer Emaar Group is marking an industry-first by leveraging the significant potential of blockchain technology with plans to offer the Emaar community token for customers and partners by the end of this year.

This highlights Emaar’s intense focus on innovation and providing the most complete experience to drive customer service, loyalty and referral across its businesses, thereby"... Continue Reading

Kuwait PM wants quick action on delayed projects

March 7, 2019

Kuwait PM wants quick action on delayed projects

Kuwait's Prime Minister HH Sheikh Jaber Al Mubarak Al Hamad Al Sabah has instructed ministers to maintain strict control over public sector projects and take appropriate measures to fast-track the ongoing development works across the country and complete them on time, said a report.

The direction from the Premier came during the weekly cabinet meeting which discussed the rate of project"... Continue Reading

Businesses in residential investment buildings scare some families away

March 6, 2019

Businesses in residential investment buildings scare some families away

KUWAIT CITY, March 5: At a time when real-estate investment sector is suffering from a clear crisis due to drop in the demand and increase in the number of vacant apartments, it is facing a problem of another kind these days, reports Al-Rai daily.

It has become commonplace in recent times to see dozens of realestate investment"... Continue Reading

Delay affected infrastructure of 18,519 plots in Mutla’a residential city project

March 5, 2019

Delay affected infrastructure of 18,519 plots in Mutla’a residential city project

KUWAIT CITY, March 4: The Public Authority for Housing Welfare said the rate of delay caused by the Chinese contractor to implement the second contract in the Mutla’a residential city has affected the infrastructure of 18,519 plots in 8 suburbs, up to more than 35 percent, after the actual completion rate of 28.56 percent compared to 63.65 percent work as per the contractual terms and conditions, reports"... Continue Reading

Kuwait launches Phase One of Shagaya Renewable Energy Park

February 25, 2019

Kuwait launches Phase One of Shagaya Renewable Energy Park

The government of Kuwait has announced Phase One of the Shagaya Renewable Energy Park project. The Shagaya Solar Energy Plant is part of the first phase and is being jointly developed by the Kuwait Institute for Scientific Research (KISR) and the Ministry of Electricity and Water.

It is expected to generate 70MW of clean power.

"... Continue Reading

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