Connecting intelligence with intelligence

×
×
Advertisement

Jun 28 2012

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.

MREC's shares jumped, by almost 6%, to close at 35.5 Kuwaiti fils ($0.13) in a lower overall market Thursday.

By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com

Copyright (c) 2012 Dow Jones & Co.

(END) Dow Jones Newswires

28-06-12 1209GMT


© Copyright Zawya. All Rights Reserved.


Be the first to comment

Send This Article To Your Friends

All fields are required.

Use commas for multiple email addresses

We'll use your email address to send the article on your behalf and it will not be collected or used for any other purposes.

X