In line with the continuous cooperation and partnership between Salhia Real Estate Company (Salhia) and National Bank of Kuwait (NBK), Mr. Ghazi Fahed Alnafisi, Chairman and Managing Director of Salhia, announced the letting of 34 floors of Arraya Tower to NBK.
Arraya Tower, owned and currently under development by Salhia, is the second phase of Arraya Centre in Kuwait City, and will comprise 36,000 m2 of office space spread over a 58 storey office tower.
Mr. Alnafisi also expressed his delight at the letting to NBK, and felt that the tenant of this caliber will solidify Arraya Tower's position in the market.
In addition, Mr. Issam Jassim Al-Saqer, Chief Executive Officer of NBK, expressed his pleasure in signing the lease agreement with Salhia.
Mr. Al-Saqer pointed to NBK's pride in the long standing relationship with Salhia, which is considered one of the leading real estate companies' in the country.
Mr. Al-Saqer believes Arraya's new tower will be a vital feature of Kuwait City's landscape.
Mr. Al-Saqer confirmed that, this agreement comes within the framework of the continued expansion of the bank in providing the best banking and financial services to its clients.
The bank continues to spread through a network of local branches, currently 65 in Kuwait, to meet the various needs of the bank's clients on different levels.
Mr. Al-Saqer also hoped for the continued cooperation with Salhia and to further strengthen their relationships in the future.
Furthermore, Mr. Alnafisi revealed that the new Arraya Tower reached the final stages of construction, and it is expected to be completed in the first quarter of 2009.
The tower will rise to 300m, making it the highest building in Kuwait upon completion.
The building is located in Sharq Area, Alshuhada Street in Kuwait City, and has 58 floors served by 16 elevators with a rental space of 36,000 m2. It is distinguished by its open plan floor plates, modern design, equipped with the latest modern technology.
-Ends-
Salhia Real Estate Company KSC, established in 1977, is an international Kuwaiti based real estate and investment company engaged in retail & leisure, offices, hotels, residential, industrial & logistics and senior care. The company owns, develops and manages commercial properties and hotels in Kuwait (such
as Salhia Complex, Arraya Centre and Marriott Hotels). Internationally, the company is involved in nursing homecare in Germany through its subsidiaries Haddia Holding GmbH and Dana GmbH. In the United Kingdom, the company has a 50:50 joint venture with St. Modwen Properties via Key Property Investments (KPI) and owns 50% of Drawbridge Securities Limited, which deals in property development options in the UK.
Nadia Alawi
Executive Secretary
Salhia Real Estate Company K.S.C.
Tel.(965) 299 6021
Fax (965) 299 6033
© Press Release 2008
