Kuwait Real Estate News
Kuwaiti firm plans to sell a property in The World
Oqyana, an affiliate of Islamic company, Investment Dar, plans to enter into deals to sell property in a major Dubai project by the end of the year.
Oqyana, in which Investment Dar owns 20 percent, is developing a land that it owns in The World in Dubai. The World is a collection of man-made islands, which the emirate is developing near its coast in the shape of the world map.
Oqyana has been approached by several investors (both regional and international developers), and the company hopes to enter into sale deals during the end of 2008.
Investment Dar did not comment on the value of the deals, but said that last year Oqyana had made a profit of $2.5bn from the sale of a Dubai property.
Oqyana’s Managing Director, Nabil Abdul Rahim, when speaking to the media, said that Oqyana is hoping for a profit of more than 150 percent, although he denied placing a value for the deal. He added that the property will be sold directly to end-users so as to boost margins.
Social Bookmarking
Read more news
> Property markets in GCC region to remain pressurized in 2012
> Kuwait property sector gathers pace following summer slowdown
> Kuwait realty sector post profits
> Kuwait records decline in expat count
> KAMCO report reveals positive indicators for Kuwait realty sector
> Majority of Kuwaitis investing in Dubai properties
> Latest Kuwait property sales report indicates improvement in the sector
> Increased demand for properties in Kuwait realty sector
> Property experts seek private sector support to develop housing sector
> KFH launches promotional campaign to finance residential real estate