Kuwait real estate firm to target UAE, UK projects

Kuwait real estate firm Al Masaken International Real Estate Development Co is set to add to its portfolio, with plans for projects in the UAE and London's upmarket Knightsbridge area.

The company was honoured on Sunday night, winning real estate company of the year at the Arabian Business Kuwait Awards in Kuwait City.

Speaking to Arabian Business after collecting the win, general manager Nabil Al Khaled said 2014 would be an exciting year for the company as it completed its projects outside of Kuwait.

"Specifically we are going to be completing the next phase of our project in Saudi Arabia in the eastern region," he said.

"We're completing approximately 100 villas, which comprises phase 2 of the project."

He said it was also finishing a joint project with Dubai Properties in Dubailand in the UAE.

"We're very interested in building communities, so Al Masaken is active in building in The Villa, which is a project master-developed by Dubai Properties," he said.

"So, that's working very well for us and we're looking at doing further projects within the same community as well as exploring further villa opportunities in Dubai such as Jumeirah Village and locations where we can work with the master communities."

He said negotiations were underway on Dubailand.

However, the company was also planning a project in London's upmarket Knightsbridge - a popular spot among Arab ex-pats, especially those from Kuwait.

"We are excited to start planning our project in Knightsbridge, which hopefully will be within the next year as well," Al Khaled said.

"So, that's also an important part of our outlook for the next six to12 months

Source: KUNA