Jun 28 2012
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Kuwait's Mena Real Estate In Talks To Buy Plot For $15M Jordan Proj
Thursday, Jun 28, 2012
BEIRUT (Zawya Dow Jones)--Kuwait's Mena Real Estate Co. (MENA.KW), or MREC, Thursday said it's in talks to buy a plot of land in Jordan to set up a tourism and commercial real estate project there at an estimated cost of $15 million.
The shariah-compliant property developer said it plans to set up a company specifically for the project.
The plot of land, located in the Dead Sea Development Zone, will be owned by the new company, MREC said in a statement posted on the Kuwait bourse website.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, email@example.com
(END) Dow Jones Newswires
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