KUWAIT, Oct 30 Sukouk Real Estate Development Company announced ?on Thursday that it signed a strategic partnership agreement with Mass International Company for Real Estate Marketing.? Vice CEO of Sukouk Abdullah Al-Mulaifi told KUNA that the marketing ?agreement is considered a special shift in the methods of commercial ?activities between companies, as Mass International will provide all marketing ?and payment collection services on behalf of Sukouk. Al-Mulaifi added that the company started negotiating and signing agreements with regional and international financial establishments to provide ?after-sales services and to receive the monthly payments for the sold Islamic ?bonds.
Meanwhile, CEO of Mass International Osama Sabah told KUNA that signing the ?agreement with Sukouk is considered a special shift and a great enhancement ?for the services offered by the company to its regional and international clients.
Sabah noted that Sukouk signed a contract with Monsha'at for Real Estate Projects to purchase Zamzam Towers' Islamic bonds for several seasons, as it ?plans to invest part of these bonds to provide hotel services and sell the ?rest for clients. Regarding the Zamzam Towers project in Makkah, marketed by Mass ?International, Sabah said that the project includes more than 1000 suits ?distributed on 31 floors and is adjacent to the Holy Mosques' squares. The bonds of Zamzam Towers allow their owners to either benefit from them or ?invest them. It is worth mentioning that Sukouk Real-Estate Development Company is owned by a number of companies, such as Kuwait Investment Company, AREF Investment ?Group, International Company for Investment and Trading, The Commercial Real Estate Company, and Munsha'at Real Estate Projects.
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© Press Release 2004
