14 November 2007
KUWAIT : The board of directors of Salhia Real Estate Company met on Nov 13, 2007 and adopted financial data of the company for the periods ending Sept 30, 2007. The company posted a profit of KD 3,111,027 with earning per share 8.8 fils for the 3 months ending Sept 30, 2007 and KD 13,824,711 with earning per share of 39.8 fils for the 9 months ending Sept 30, 2007. During the corresponding period last year the company earned KD 460,785 with earning per share of 1.3 fils and KD 2,387,067 with earning per share of 7.0 fils. SREC is a Kuwait-based company established on Sept 16, 1974 and is engaged in various real estate activities. It owns rents and manages commercial properties and hotel accommodation within Kuwait, and is involved in operating care homes in Germany through its subsidiaries Al Haddia Holding GmbH, Sarec GmbH, Dana GmbH, Dana Ambulante GmbH and Gredo GmbH. The Company also owns 50 per cent of Drawbridge Securities Limited, which deals in property development in the United Kingdom.
Alargan International Real Estate Company hit profit of KD 5.8 million for 9 months ending Sept 30, 2007. The company board members met Nov 13, 2007 and adopted Q3 Financial data for the periods ending Sep 30, 2007. The company earned a profit of KD 2,208,002 with EPS valued at 8.33 fils for the three ending Sept 30, 2007 and KD 5,853,468 with EPS valued at 22.36 fils for the 9 months ending Sep 30, 2007. The net profit includes unrealized profits of KD 63,186 and unrealized revenue worth KD 93,382. During the corresponding period 2006 the company earned KD 546,653 and KD 2,840,539 for the three and nine months ending Sep 30, 2006 respectively. Alargan is one of the leading developers in Kuwait, a pioneer in high quality residential and commercial development. The company was established in 1994 and since then acquired an extensive knowledge of all property types from garden-style walk-ups to luxury high-rise buildings and commercial properties. Alargan began to expand to other countries in 2003 and now has offices in Oman, Kingdom of Saudi Arabia, Kingdom of Bahrain, United Arab Emirates, and Lebanon and just recently in 2006 in Egypt.
Markaz Real Estate Fund had received approval Central Bank of Kuwait on Nov 12, 2007, on its interim financial statements for the periods ending Sept 30, 2007. The Company said to it earned KD 1,772,826 for the 3 months ending Sept 30, 2007 with EPS valued at 78 fils and KD 4,562,968 with EPS of 201 fils for the 9 months ending Sept 30, 2007. Note that net profit includes Unrealized profits of KD 4,520,071, unrealized Total revenue KD 155,625 and outstanding Total expenses amounted to KD 167,695. During the corresponding period last year the company earned KD 1,249,946 for the 3 months ending Sep 30, 2006 and KD 2,030,522 for the 9 months ending Sep 30, 2006 with EPS of 56 fils and 91 fils respectively. Markaz was incorporated on June 9, 2002 and was listed on the Kuwait Stock Exchange (KSE) on Nov 29, 2004. The objective of the fund is to generate stable and recurring returns, in compliance with the Islamic Sharia'a, by investing in a portfolio of real estate properties in the State of Kuwait within the duration of the fund, which is expected to be five years from the date of incorporation.
Pearl of Kuwait Real Estate achieved profit of KD 6.8 million for the Q3 ending Sept 30, 2007. the company board had met on Monday Nov 12, 2007 and posted the Financial data for the periods ending Sept 30, 2007 earning KD 1,128,979 with EPS valued at 4.94 fils for the 3 months ending Sept 30, 2007 and KD 6,889,711 with EPS of 30.38 fils for the 9 months ending Sept 30, 2007.Note that net profit includes unrealized profits of KD 7,108,605 and unrealized revenue worth KD 5,145,083. During the same period last year the company posted a profit of KD 224,470 for the 3 months ending Sept 30, 2006 and KD 257,949 for the 9 months ending Sept 30, 2006 with EPS valued at 0.98 fils and 1.13 fils respectively. Pearl of Kuwait was established Feb 5, 1975 under the name of Kuwait International Real Estate Company (Kuwait Shareholding Closed Company) with a start up capital of KD 150,000. Today the paid up capital is KD 23 million with assets under management of $400 million.
KUWAIT : The board of directors of Salhia Real Estate Company met on Nov 13, 2007 and adopted financial data of the company for the periods ending Sept 30, 2007. The company posted a profit of KD 3,111,027 with earning per share 8.8 fils for the 3 months ending Sept 30, 2007 and KD 13,824,711 with earning per share of 39.8 fils for the 9 months ending Sept 30, 2007. During the corresponding period last year the company earned KD 460,785 with earning per share of 1.3 fils and KD 2,387,067 with earning per share of 7.0 fils. SREC is a Kuwait-based company established on Sept 16, 1974 and is engaged in various real estate activities. It owns rents and manages commercial properties and hotel accommodation within Kuwait, and is involved in operating care homes in Germany through its subsidiaries Al Haddia Holding GmbH, Sarec GmbH, Dana GmbH, Dana Ambulante GmbH and Gredo GmbH. The Company also owns 50 per cent of Drawbridge Securities Limited, which deals in property development in the United Kingdom.
Alargan International Real Estate Company hit profit of KD 5.8 million for 9 months ending Sept 30, 2007. The company board members met Nov 13, 2007 and adopted Q3 Financial data for the periods ending Sep 30, 2007. The company earned a profit of KD 2,208,002 with EPS valued at 8.33 fils for the three ending Sept 30, 2007 and KD 5,853,468 with EPS valued at 22.36 fils for the 9 months ending Sep 30, 2007. The net profit includes unrealized profits of KD 63,186 and unrealized revenue worth KD 93,382. During the corresponding period 2006 the company earned KD 546,653 and KD 2,840,539 for the three and nine months ending Sep 30, 2006 respectively. Alargan is one of the leading developers in Kuwait, a pioneer in high quality residential and commercial development. The company was established in 1994 and since then acquired an extensive knowledge of all property types from garden-style walk-ups to luxury high-rise buildings and commercial properties. Alargan began to expand to other countries in 2003 and now has offices in Oman, Kingdom of Saudi Arabia, Kingdom of Bahrain, United Arab Emirates, and Lebanon and just recently in 2006 in Egypt.
Markaz Real Estate Fund had received approval Central Bank of Kuwait on Nov 12, 2007, on its interim financial statements for the periods ending Sept 30, 2007. The Company said to it earned KD 1,772,826 for the 3 months ending Sept 30, 2007 with EPS valued at 78 fils and KD 4,562,968 with EPS of 201 fils for the 9 months ending Sept 30, 2007. Note that net profit includes Unrealized profits of KD 4,520,071, unrealized Total revenue KD 155,625 and outstanding Total expenses amounted to KD 167,695. During the corresponding period last year the company earned KD 1,249,946 for the 3 months ending Sep 30, 2006 and KD 2,030,522 for the 9 months ending Sep 30, 2006 with EPS of 56 fils and 91 fils respectively. Markaz was incorporated on June 9, 2002 and was listed on the Kuwait Stock Exchange (KSE) on Nov 29, 2004. The objective of the fund is to generate stable and recurring returns, in compliance with the Islamic Sharia'a, by investing in a portfolio of real estate properties in the State of Kuwait within the duration of the fund, which is expected to be five years from the date of incorporation.
Pearl of Kuwait Real Estate achieved profit of KD 6.8 million for the Q3 ending Sept 30, 2007. the company board had met on Monday Nov 12, 2007 and posted the Financial data for the periods ending Sept 30, 2007 earning KD 1,128,979 with EPS valued at 4.94 fils for the 3 months ending Sept 30, 2007 and KD 6,889,711 with EPS of 30.38 fils for the 9 months ending Sept 30, 2007.Note that net profit includes unrealized profits of KD 7,108,605 and unrealized revenue worth KD 5,145,083. During the same period last year the company posted a profit of KD 224,470 for the 3 months ending Sept 30, 2006 and KD 257,949 for the 9 months ending Sept 30, 2006 with EPS valued at 0.98 fils and 1.13 fils respectively. Pearl of Kuwait was established Feb 5, 1975 under the name of Kuwait International Real Estate Company (Kuwait Shareholding Closed Company) with a start up capital of KD 150,000. Today the paid up capital is KD 23 million with assets under management of $400 million.
© Arab Times 2007
