| 01 Dec 2008 |
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Kuwait: AREC plans KD 7mn tower
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Kuwait City - Action Real Estate Co (AREC)Action Real Estate Co (AREC)
, a leading real estate developer, announces the launch of their latest new business project named Shayma Tower located in Mirqab one of the most popular business are in the capital of Kuwait. Shayma Tower is a project estimated above KD 7 million; following a continuous growth of ARECAREC's projects in Kuwait. The 20 story Glass and Aluminum building, symbol of modern architecture, brings the most recent facilities and services to meet the requirements of targeted occupants such as companies and commercial establishments.Shayma Tower adopted the latest technologies of smart building which equips the tower with special structured wiring to enable tenants to remotely control or setup an array of automated electronic devices by entering a single command around communications, entertainment, security, convenience, and information systems. Moreover, Shayma Tower translates the commitment of ARECAREC towards the environment and ecology system via a proper isolation from heat and sound pollution reducing the use of air conditioning moreover the glass structure of the tower helps saving power in lighting.
Eng Rawaf Bourisli, General Manager of ARECAREC
commented: "Shayma Tower distinguishes itself with business floors; allowing tenants benefit of the flexibility to occupy a surface ranging between 100 sqm to 250 sqm per floor to suite their needs and size." The solid growth of ARECAREC's presence in the local real estate market as materialized with recent developments such as OMNIYA Center (a Boutique mall suitable for the sophisticated shoppers who are looking for luxury, comfort and exclusivity); IBIS Hotel (from the French Hotel Group ACCORD) located in Salmiya on Salem Al Mubarak Street the most high traffic shopping area in Kuwait, a strategic location for a renowned hotel with very competitive prices; and upcoming SAHARI Mall located in Jahra. Action Real Estate CompanyAction Real Estate Company -- ARECAREC -- is one of the leading regional real estate developers; established in Kuwait in 2004, and in 2005 was transformed to a closed shared company with a capital of KD 18,000,000. Currently ARECAREC and its subsidiaries staff count is above 100.
Currently, ARECAREC Head quarter is in Kuwait, with branch offices in Bahrain, UAE, and Oman. In addition to developing commercial, residential, and hospitality real estate Action Real Estate CompanyAction Real Estate Company provide provides real estate advisory, project management and letting services.
Over the past years and since its inception Action Real Estate CompanyAction Real Estate Company took on the responsibility of addressing the middle market and middle class segments in its developments strategy, where this is very clear its current portfolio which includes Ibis Salmiya Hotel and Omniya Centre, Saharl Mall in Jahra, Waha Mall in Dhajeej area. Waves Business Center in Kuwait Free Trade Zone, and many other developments of similar quality. In addition to its strategy of middle market development, ARECAREC developed a speciality in mixed used developments, which is a reflection of its management belief of the vital role real estate companies conducts in any society. In all of its mixed and single use developments, the clear added value segments was integrated into the developments, such as parking and other public spaces.
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