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Kuwait REITs
Al Mehrab Tower - (Kuwait Hotel Hospitality)
Tuesday, 16 September 2014 03:47

Al-Mehrab is a Kuwaiti Dinar 26m / USD$91m (closed) Kuwaiti real estate company, established in mid-2008 by strategic partners including Munshaat Real Estate Projects, Emirates Islamic Bank, Arab Investment Company, Athman Investment Company, and Sorroh Investments to lease all 12 of the residential floors in the Fourth / Al-Mehrab Tower (12th - 23rd floors), at the Al-Safwa Residential & Commercial Towers Complex in Ajyad in Mecca for a 372 suite hotel.

Munshaat Website Link

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MREP / Munshaat Real Estate (Kuwait MUNSHAAT)
Tuesday, 12 July 2011 10:15

Al Mahrab Tower REIT Real Estate Co KSCC (MREIT) was the first Sharia compliant REIT in Kuwait, and was formed by the Munshaat Real Estate Projects Company in 2007, whose Real Estate Projects Company (MREPMREP) was involved with: Athman Investment Company / AIC (which served as the private placement manager for MREIT); Aref Investment GroupAref Investment Group; and The International Leasing & Investment Co. AIC specializes in Sharia compliant asset management and investment banking, and was established in 2006 as a closed-end Kuwaiti company by a group that included the Educational Holding Company (EHC); the International Leasing & Investment Company (ILIC); and the Mowasat Holding Company, with a paid up capital of approx KWD16.5m / USD$60m. MREPMREP structures real estate products; establishes and manages real estate funds & portfolios on behalf of clients; provides advisory services for real estate projects; and supervises the conception, development and construction of projects. It first, main and central project remains the The Al Mahrab Hotel tower, which is a part of the Al Safwa Towers Project (in Makkah, a religiously highly sensitive and restricted area in Saudi Arabia), which comprises about 5 towers covering approx one hectare, and which incorporates Islamic design and direct views of the Holy Kaaba. Due to the location it is regarded as one of the most stable and lucrative ‘religious tourism’ sites in the world. The Al Mahrab Tower hotel component provides about 15 floors with approx 500k sqm of hotel rooms / apartments for about 20 years. It is / was scheduled to list in 2013.

Munshaat Website Link

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Last Updated on Monday, 13 February 2012 05:10