Kuwait - Kuwait International Bank (KIB), a leading Islamic bank in the country, has announced that its key unit has won a tender to manage the real estate portfolio for Zakat House Kuwait.
This important achievement reflects the leadership of the Bank’s Property Management Department in providing comprehensive and distinguished real estate services to all customers.
This comes in line with KIB’s commitment to its vital role and its reliance on its accumulated expertise in managing and developing portfolios in the governmental sector and other diverse portfolios.
Speaking on the occasion, Yousef Al Ojail, Manager of Property Management at KIB, said: "This tender is a testament to the confidence placed in KIB by Zakat House Kuwait as a reliable and trusted partner. The Zakat House real estate portfolio includes a group of investment commercial properties located in different areas across Kuwait."
Lauding the high levels of expertise and professionalism of KIB Property Management team, Al Ojail said he will work on developing the assets of this portfolio, increasing its annual revenue and income.
"This will involve various tasks such as maintenance work, supervision of maintenance companies for the properties within the Zakat House portfolio, attracting bids from these companies, contracting with them, disbursing their payments, and overseeing issues related to properties and tenants," he stated.
He emphasized the importance of keeping clients informed about all details and updates by preparing comprehensive monthly reports on revenues and expenses for each property separately and evaluating the properties at the end of each year.
Pointing out its long history in asset management, Al Ojail highlighted that his department was established in 1976 with the aim of providing comprehensive and integrated services for various types of properties at competitive prices.
These include commercial complexes, residential buildings, and properties owned by various customer segments.
He said the tasks of this management include property marketing and management, collecting rents through advanced technological methods, preparing accounting reports, providing maintenance and legal services, and conducting public auctions as requested by property owners.
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