Bahrain, March 30th, 2009 -Action Real Estate Company (AREC) announced the beginning of leasing the Areb Tower Project which is located in the Diplomatic area in the Kingdom of Bahrain, one of the major areas in Bahrain which has most of the financial and trading companies.

In this regard, Eng. Rawaf Bourisli, the General Manager of AREC declared his appreciation for the launch of leasing the distinguished tower particularly in relatively small offices exposed to the dominant market section which are the small and medium size enterprises. The leasing available spaces are within 125 to 250 square meters.

"The Areb Tower consists of 20 floors with approximately 10,000 square meters built-up area, the project total cost reached about KD6,500,000. Bourisli added "Areb Tower is a part of the company plan in Bahrain focusing especially on operating revenues and on the company system which cares about the exclusive introduced products. Moreover, the tower contains five levels dedicated for the car parking of the tenants".

Bourisli has assured that the strategy of the company represented in developing real estate products to serve the medium social class has showed a peerless success with the current world economic crises. And he said:"the medium social class represented in the relatively small offices and the residential buildings which exposed the middle class, the economic hotels, and the mainstream markets, were not affected by the rising noticed in the past few years, as most real estate developers invested heavily in luxuries projects therefore the supply doesn't cover up the demand such as in the magnificent projects."

The Action Real Estate Company adheres now to complete the IBIS Hotel Project in cooperation with the Action Hotels Company. The IBIS hotel located in Salmiya on Salem Al Mobark Street is one of the economic hotels opened in Kuwait last year that the company attempt to develop it in Kuwait, Bahrain, Jordan, Oman, and Sharjah

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About Action Real Estate Company:
Action Real Estate Company - AREC - 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 AREC and its subsidiaries staff count is above 100.

Currently, AREC 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 Company provide provides real estate advisory, project management and letting services.

Over the past years and since its inception Action 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 in its current portfolio which includes Ibis Salmiya Hotel and Omniya Centre, Sahari Mall in Jahra, Waha Mall in Dhajeej area, Waves Business Centre in Kuwait Free Trade Zone, and many other developments of similar quality.

In addition to its strategy of middle market development, AREC 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.

Media contacts:
Action Real Estate Company
Suha Al Jurf - Executive Secretary (GM Office)
Tel: +965 2 2247540
Fax: +965 2 2247544
email: suha@actionkuwait.com

BPG Public Relations
Nancy Nusrally - PR Manager
Tel: +965 2 2411676
Fax: +965 2 2492644
email: nancy@batespangulf.com

© Press Release 2009