KUWAIT: Al-Riyada Finance & Investment Co realizes significant returns approximating 22 percent for the company and its clients of invested capital. This significant realization of profit comes as a result of the company's exit from its investment in Al-Liwan Mall located at the state of Kuwait - Eqaila area.
The mall covers an area of 5,592 sq with total exit value of KD 30 million. Muhanad Al-Sane, Chairman & Managing Director, stated that Al-Riyada, since inception in 2008, has focused on the achievement of its basic objectives including the provision of finance solutions for feasible and carefully selected real estate projects with manageable risks, investment in such projects and establishing appropriate exit strategies for the company & its clients. Al-Liwan Mall (launched in the middle of 2012) is one of its achievements.
Al-Sane concluded his statement by stipulating that profits realized should be included in the 2013 results. In regards to the reasons of this exit, Al-Sane indicated that the market is full of profitable and promising investment opportunities and Al-Riyada wishes through its future vision to diversify sources of income for the company and its clients.
© Kuwait Times 2013
