Kuwait Real Estate News
Al Mazaya highlights significance of investment in property portfolios
Al Mazaya Holding, a leading regional property developer, highlighted the vital role, played by property portfolios in driving the current real estate boom in the region, especially those in the GCC countries.
Eng Khalid Esbaitah, Executive Manager & CEO of Al-Mazaya Holding, when speaking about the significant role of property portfolios in driving the property boom, mentioned that these portfolios offer technical resources and adequate funding for mega projects and their effective marketing and management strategies.
For a novice, “Property Portfolio” may be more like an “investment portfolio,” where stocks and bonds issued by a shareholding company are registered in the financial market. However, the property portfolios differ from investment portfolios, in the sense, that it is a long term investment, and the profits are guaranteed. However, the capital of a property portfolio needs to be larger than that of investment portfolio, as the capital will be used for purposes such as purchase of plots, leasing or building of properties.
According to Esbaitah, the property portfolio and alliances, offer high range of flexibility for property development and investment, by providing diversified packages of complementary businesses, which yield necessary funding. Funding is done either, by partial or full acquisition and through the marketing and management of existing projects, apart from monitoring the market developments to make maximum use of the investment to the best advantage of investors.
Currently, Al-Mazaya holds a portfolio of Dh.497.212mn for 14 investors to develop Queue Point in Dubailand, and another Dh.500mn worth portfolio with Kuwaiti investors for construction of 500 residential villas in Dubailand. Apart from this, it has a portfolio of OMR3.1 in Oman, SR 100mn in Saudi Arabia, and QR500mn in Qatar where the investment of the company has been projected to touch QR2.5bn.
The total home investment of this Kuwaiti company has crossed the half billion mark so far, while, more than 90 percent of the company investment has been invested in Dubai, where it is expected to touch the Dh.5billion mark.
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