Mr. Abdul Fatah M. R. Marafie Chairman and Managing Director of Commercial Real Estate Company announced that the results of the company's business during the nine months ended September 30, 2011 resulted in a net profit of 7,370,855 KD with a significant increase by 70.4 %
compared with the same period the previous year and as a reflection of those profits achieving a return 4.2 fils / per share and the growth of shareholders' equity to 249.3 million and revenue growth on shareholding equity with 3% and revenue growth on assets with 1.88%.
Accordance with the policy set by the company's management on the balance between self-and external resources in accordance with accepted financial indicators both at the level of the company's balance or in front of funders and financial , the company has to pay amount of 24 million KD during the third quarter of this year and that amount is equivalent to 16% of the total outstanding indebtedness of the company, this resulted in improved financial indicators and ratios of trading and fast liquidity, and the proportion of debt and financial solvency.
according to the current and future vision of operating revenues of the company's projects and Has been coordinated with the financial creditors to reschedule debt obligations based on short-term to long-term commitments to that operating income, he also confirms that the business plan developed by the company's management comes in line with the objectives set up to support the self-financing and reduce all debts and this reflects the solvency of financial and operational enjoyed by the company especially in light of economic conditions and local and global loss of confidence by financial institutions to private sector companies in general.
Mr. Marafie stressed that the strategy of the company established years ago made it in the forefront of real estate companies and property developers and the makers of the State of Kuwait, where the focus was on major projects with international standards that added aesthetic value of the interface real estate in Kuwait.
and confirmation of that strategy was the opening of Hotel "Missoni" in the 05/25/2011, which is the first in the Middle East, which is one of the monuments of distinguished real estate, whether Active distinctive waterfront on the Arabian Gulf Street, and Salem Al Mubarak Street, and project has won the attention of all circles since the beginning of the construction idea and will soon complex symphony will be opened officially.
It should be noted that AL-Tijaria Tower, which is among the monuments of real estate which combines the architectural and engineering as well as the highest methods of modern technology and combines the tower many activities, whether offices, shops, restaurants, entertainment venues and to meet the needs of the consumer in the local market.
The company has obtained official approval to construct a building for car parking and pedestrian bridge linking by distinctive design and equipped with the latest and the main means of transportation between parkings and complex tower.
It is also expected during 2012, the completion of Juman residential project in Mahboula area, the project consists of two residential towers and parking and some shops and recreation amenities to serve the tenants of the project to contribute to the increase in operating income for the company later.
Mr. Marafie extended his sincerest gratitude and appreciation to the board members and the executive Management as well as all the employees and workers of the company for their efforts towards achieving the objectives of the company and attaining the best results.
contact us 
news 
about us 
homepage 