Real Estate Investment Trusts in Kuwait
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Real Estate Investment Trusts in Kuwait can be listed or private.
Real Estate Investment Trusts in Kuwait are Not Yet Numerous
So far, the one REIT announced began in 2007. It's from Munshaat Real Estate Projects Co. K.S.C.C (MREP), and it's Al Mahrab Tower REIT Real Estate Co. K.S.C.C. It was made a private placement at first, but planned to be listed by 2013. It is Sharia-compliant.
It was originally incorporated as a Kuwaiti closed shareholding company. It was formed for one project: The Al Mahrab Hotel tower. That's part of the Al Safwa Towers Project in Makkah. It's five towers on 9,635 square meters. It incorporate Islamic design elements, and will be located on Ajyad Street in Makkah Al Mukaramah fifty meters from the Haram. So it will offer a direct view of the Holy Kaaba. They planned to pay out 100% of income and capital gains, and expected a 24% rate of return.
Hopefully there will soon be more Real Estate Investment Trusts in Kuwait.
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