02 May 2006
KUWAIT: Director General of Al-Dhow Investment Company, Hamad Essa Al-Hamad, confirmed the company's success in proving itself as the investment arm of Al-Sayer group.
He said the company had made tangible progress, both administratively and in expanding its operations, prompting the directors to approve its transformation from a limited liability company into a (closed) Kuwaiti shareholding company. Al-Dhow has a capital base of KD 20 million, and will be seeking to increase this to KD 40 million in the future. He said the company, which began operations in 1992, is enjoying a strong period of growth and is developing its capabilities by investigating promising new openings, both here and abroad.
He praised the competent and highly qualified young Kuwaitis now working for the company, saying they are ambitious and able to enhance its performance and so boost its competitiveness.
The company is the market leader among similar companies in terms of profit as a percentage of capital and is distinguished by its reputation for being trustworthy, because it provides up to 20% of the capital investors need to fund the projects in which they participate.
Al-Hamad said the current activity and future plans of Al-Dhow Investment company include the establishment of Jabalah Holding Company, which will have KD 16 million of capital for investing in industrial projects both locally and internationally. Al-Dhow will provide 20% of the capital through special underwriting, before listing the company on the Kuwait Stock Exchange in the middle of this year.
The company also plans to establish a holding company with a capital of KD 120 million in order to invest in real estate projects in the Middle East. The company intends to present the projects through special underwriting in the same region.
The company is also involved in the largest real estate project in Lebanon, and is entering the Chinese market with strategic partnerships. Al-Dhow has signed its first investment contract with the Chinese government. It also owns 40% of the Arab Coffee Company, which owns Caribou Cafe in the Middle East and the second largest cafe chain in America.
The company plans to open 250 branches during the next eight years starting in Kuwait and the UAE, then Bahrain at the end of 2006, followed by Qatar and Saudi Arabia at the beginning of 2007.
Al-Hamad revealed that the company intends to expand in the field of investment, reducing the level of risk for investors and presenting a high standard of customer service. He spoke about the commercial and investment movement in Kuwait and how to activate it. He said there is huge confidence in the Kuwait market because of the high levels of local expertise in investment and the financial markets, which will attract foreign capital into the market. He said the investment movement in Kuwait is going well, but conditions require some easing of restrictions that limit the activities of private sector investors.
Al-Hamad said Kuwait is going forward in the economic movement in general, and is only held back by the uncertainties present in the Gulf region. He called on experienced investors to support newcomers to the market and not to keep any expertise from them. This will enable Kuwaiti youth to get ahead and work in the investment field, which will reflect positively on the economic environment in Kuwait.
Al-Hamad said the multi-faceted tools of investment are the best lessons and must be learned by anyone wanting to get into this field.
Commenting on the intention to make Kuwait a regional financial and commercial centre, Al-Hamad welcomed the initiative, saying: "We should pave the way, because Kuwait will not achieve this unless the door is opened for investors from all countries and all obstacles in the way of foreign capital are removed." He concluded by saying that transforming Kuwait a regional financial centre will lead the way in helping Kuwait flourish in every respect, not just at the economic level.
KUWAIT: Director General of Al-Dhow Investment Company, Hamad Essa Al-Hamad, confirmed the company's success in proving itself as the investment arm of Al-Sayer group.
He said the company had made tangible progress, both administratively and in expanding its operations, prompting the directors to approve its transformation from a limited liability company into a (closed) Kuwaiti shareholding company. Al-Dhow has a capital base of KD 20 million, and will be seeking to increase this to KD 40 million in the future. He said the company, which began operations in 1992, is enjoying a strong period of growth and is developing its capabilities by investigating promising new openings, both here and abroad.
He praised the competent and highly qualified young Kuwaitis now working for the company, saying they are ambitious and able to enhance its performance and so boost its competitiveness.
The company is the market leader among similar companies in terms of profit as a percentage of capital and is distinguished by its reputation for being trustworthy, because it provides up to 20% of the capital investors need to fund the projects in which they participate.
Al-Hamad said the current activity and future plans of Al-Dhow Investment company include the establishment of Jabalah Holding Company, which will have KD 16 million of capital for investing in industrial projects both locally and internationally. Al-Dhow will provide 20% of the capital through special underwriting, before listing the company on the Kuwait Stock Exchange in the middle of this year.
The company also plans to establish a holding company with a capital of KD 120 million in order to invest in real estate projects in the Middle East. The company intends to present the projects through special underwriting in the same region.
The company is also involved in the largest real estate project in Lebanon, and is entering the Chinese market with strategic partnerships. Al-Dhow has signed its first investment contract with the Chinese government. It also owns 40% of the Arab Coffee Company, which owns Caribou Cafe in the Middle East and the second largest cafe chain in America.
The company plans to open 250 branches during the next eight years starting in Kuwait and the UAE, then Bahrain at the end of 2006, followed by Qatar and Saudi Arabia at the beginning of 2007.
Al-Hamad revealed that the company intends to expand in the field of investment, reducing the level of risk for investors and presenting a high standard of customer service. He spoke about the commercial and investment movement in Kuwait and how to activate it. He said there is huge confidence in the Kuwait market because of the high levels of local expertise in investment and the financial markets, which will attract foreign capital into the market. He said the investment movement in Kuwait is going well, but conditions require some easing of restrictions that limit the activities of private sector investors.
Al-Hamad said Kuwait is going forward in the economic movement in general, and is only held back by the uncertainties present in the Gulf region. He called on experienced investors to support newcomers to the market and not to keep any expertise from them. This will enable Kuwaiti youth to get ahead and work in the investment field, which will reflect positively on the economic environment in Kuwait.
Al-Hamad said the multi-faceted tools of investment are the best lessons and must be learned by anyone wanting to get into this field.
Commenting on the intention to make Kuwait a regional financial and commercial centre, Al-Hamad welcomed the initiative, saying: "We should pave the way, because Kuwait will not achieve this unless the door is opened for investors from all countries and all obstacles in the way of foreign capital are removed." He concluded by saying that transforming Kuwait a regional financial centre will lead the way in helping Kuwait flourish in every respect, not just at the economic level.
© Kuwait Times 2006
