Markaz announced participation in “The Real Estate and Investment Exhibition – Kuwait,” which will be organized by Top Expo Group Exhibitions in cooperation with Kuwait International Fair Company in Kuwait International Fairs Ground during April 29 to May 4, 2013. The exhibition will be inaugurated under the auspices of the Minister of Trade and Commerce Undersecretary, Mr. Abdulaziz Al-Khaldi.
Mr. Bassam Al-Othman, Markaz Executive Vice President – MENA Real Estate said: “We’re glad to participate in this grand event which will gather 70 real estate and investment companies to exhibit more than 200 real estate projects in 17 countries.”
Mr. Al-Othman said: “The Real Estate sector in GCC countries enjoys strong fundamentals and we expect a positive momentum for the residential sector during the year 2013, while the commercial and offices sector is expected to stabilize. It is also worth mentioning that Markaz has completed its residential development project which consists of 54 villas in Khobar, Saudi Arabia. We already sold 43 villas and expect to exit from the project during the second quarter of 2013.”
Mr. Al-Othman Added: “Our Markaz Real Estate Fund ‘MREF’ invests in revenue generating properties in Kuwait and has been attracting new investors. The fund acquired a number of revenue generating properties during the year 2012. Meanwhile, Markaz Real Estate Opportunities Fund ‘MREOF’ has been managing real estate in Lebanon, Saudi Arabia, Jordan, Syria and Abu Dhabi. In the year 2012, MREOF exited from its Al-Falah investment in Riyadh, and from the Um Sumaq residential project in Jordan, and dividends were distributed to the fund’s investors accordingly in the year 2012.”
About Markaz
Kuwait Financial Centre K.P.S.C “Markaz”, with total assets under management of over KD903 million (USD 3.2 billion) as of December 31, 2012, was established in 1974 has become one of the leading asset management and investment banking institutions in the Arabian Gulf Region. Markaz was listed on the Kuwait Stock Exchange (KSE) in 1997.