Markaz installs electric vehicle charging stations in its apartment buildings in Kuwait

Underlining its commitment to meeting evolving needs of its clients and promoting sustainability

Markaz installs electric vehicle charging stations in its apartment buildings in Kuwait

Kuwait – In line with the growing trend for electric vehicle ownership in Kuwait, and to better serve the tenants’ needs, Kuwait Financial Centre K.P.S.C “Markaz” recently installed electric vehicle charging stations at two of its properties in Kuwait. The charging stations located in dedicated parking spaces in Al Nada Tower in Dasman and Al Maha Tower in Bneid Al Gar are operational and tenants can use the facilities free of cost.

Commenting on the announcement, Khaled AlDousari, Analyst, MENA Real Estate, Markaz, said: “The installation of the charging stations reflects our commitment to delivering added value to our clients and enhancing the appeal and performance of our assets. Putting customers at the heart of our business, we develop commercial and residential real estate solutions that match the current and future needs of our valued tenants. We also attach great importance to making improvements to our offerings in line with new trends in the market and to the fullest satisfaction of our customers to maintain longer tenancy, lower turnover, and higher occupancy.”

AlDousari added: “Markaz has placed sustainability at the heart of its business model and the electric vehicle charging stations at our properties demonstrate how it permeates through various aspects of our business and operations. We hope the new facilities, which represent our contribution towards achieving net-zero carbon footprint in Kuwait through our smart, environmentally friendly, and sustainable properties, will inspire our tenants and our stakeholders to adopt electric vehicles and embrace renewable solutions to reduce carbon emissions.”

Growing environmental concerns means that Corporate Social Responsibility has become more important than ever. The integration of social and environmental concerns in business operations and interaction with stakeholders will achieve a balance of economic, environmental and social imperatives, while at the same time addressing the expectations of clients and stakeholders.

Markaz has always been keen on doing business responsibly and sustainably and has adopted the best standards, processes, and procedures to ensure that its operations and offerings generated meaningful impacts on people, clients, the community, and the environment. In keeping with this commitment, the company launched its second Sustainability Report in November 2020, covering the reporting period of 2018 and 2019. The report, which is in alignment with the United Nations Development Program’s Sustainable Development Goals and the Kuwait National Development Plan (KNDP), was aimed at measuring and evaluating its sustainability performance and reporting the results transparently to both its internal and external stakeholders.

It is worth mentioning that Markaz Real Estate Fund (MREF) has achieved since its inception in 2003 an annualized IRR of 7.61% and a total return of 6.42%. It currently owns 17 income-generating properties that are distributed between investment and commercial properties across Kuwait’s prime locations. Furthermore, MREF has a total AUM of KD 68 million (As of April 2021) and has developed two main projects (Al Nada and Al Maha Towers). In the heart of Dasman, Al Nada Tower is a 27-floor high-end residential tower overlooking Gulf Road. Similarly, Al Maha Tower, situated in Bnaid Al Gar, has 22 floors with spectacular views. Both are ideal destinations due to their strategic locations near the city centers, trade zones and famous shopping centers. Adding to that, they feature superior amenities including rooftop infinity pools, fully equipped gyms, rooftop barbeque area, high-speed internet, 24/7 security services, landscaped gardens, and outdoor and indoor children play areas that enable kids to safely enjoy. These amenities offer tremendous possibilities for achieving comfort, security, an independent lifestyle and enhanced quality of life.

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