National Real Estate Co K.S.C (NRE`R)

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News

15 March 2020 09:33 AM NREC’s profit up 6% in 2019; plans 5% bonus shares

Mubasher: The net profit of the National Real Estate Company (NREC) increased by 5.7% on an annual basis to KWD 11.4 million ($37.22 million) in 2019, compared to KWD 10.82 million ($(35.19 million) in 2018. The growth in last year’s profits is …

Financial Results

18 November 2019 00:51 PM NREC reports 21% lower profits in Q3-19

Mubasher: The National Real Estate Company (NREC) posted a year-on-year decline of 21.2% in profits during the third quarter of 2019. Profits for the period shrank to KWD 2.823 million ($9.32 million) in Q3-19 from KWD 3.581 million ($11.82 …

Financial Results

14 August 2019 02:47 PM NREC records KWD 3m profit in Q2-19

Mubasher: National Real Estate (NREC) achieved an increase of 10.6% in profits during the second quarter of 2019 compared to the corresponding three months last year. Profits grew to KWD 3.05 million ($10.06 million) in Q2-19 from KWD 2.76 million …

Financial Results

14 May 2019 11:49 AM NREC posts KED 3.6m profit in FY18

Mubasher: The National Real Estate Company (NREC) reported a decrease of 19.5%, on an annual basis, during the first quarter of 2019. Profits shrank to KWD 3.63 million ($11.97 million) in Q1-19 from KWD 4.51 million ($14.87 million) in Q1-18, …

Company News

16 April 2019 00:46 PM NREC to distribute 10% bonus shares for FY18, elects board

Mubasher: The ordinary general meeting (OGM) of the National Real Estate Company (NREC) approved to distribute 10% of the capital as bonus shares for the fiscal year ended on 31 December 2018. The Boursa Kuwait-listed company on Tuesday, 16 April, …

General Assembly

13 March 2019 06:29 PM Kone to supply 120 mobility units for Reem Mall

Abu Dhabi – Mubasher: Finland-based Kone won an order to supply elevators and escalators for the AED 4.4 billion ($1.2 billion) Reem Mall currently under construction in Abu Dhabi. Under the terms of the contract, Kone, a global leader in the …

Companies Investments

12 March 2019 11:34 AM NREC posts KWD 11m profits in FY18 on UAE, Egypt projects

Mubasher: National Real Estate Company (NREC) achieved a net profit of KWD 10.8 million during fiscal year 2018, while its earnings per share (EPS) stood at 7.71 fils, according to a press release on Tuesday. NREC recorded an increase of 22% in …

Real estate

20 December 2018 00:50 PM Kuwait’s NREC inks EGP 3.6bn project development in Egypt

Cairo – Mubasher: Kuwait-based National Real Estate Company (NREC) announced that its subsidiary KUWADICO, a joint venture formed by NREC and Egypt’s Wadi El Nil Company, has signed an EGP 3.6 billion deal to develop Grand Heights project in …

Companies Investments

19 December 2018 02:14 PM Agility seals KWD 31m debt conversion to equity in NREC

Mubasher: Agility Public Warehousing announced that the indebtedness of its subsidiary Agility Investment Holding Limited has been converted to shares in National Real Estate Company (NREC) after meeting all the required procedures. The KWD 31 …

Companies Investments

14 November 2018 01:46 PM NREC records KWD 10m profits in 9M

Mubasher: National Real Estate (NREC) achieved a net profit of KWD 10.41 million ($34.3 million) during the first nine months of 2018, according to a press release on Wednesday. NREC registered an operating revenue of KWD 18.42 million, and a …

Real estate

8 November 2018 02:27 PM NREC nods to KWD 31m loan conversion from Agility

Mubasher: National Real Estate Company (NREC) approved the conversion of the KWD 31 million loan pledged from Agility Investment Holding into 272.8 million shares in the NREC's share capital at the nominal value of 100 fils per share and share …

Companies Investments

18 October 2018 05:07 PM NREC plans to convert Agility Investment's loan into equity

Mubasher: National Real Estate Company (NREC) will discuss converting the loan pledged by Agility Investment Holding into an equity, during NREC’s general assembly on 8 November, Reuters reported. The shareholders of NREC will consider converting …

Real estate

18 October 2018 04:58 PM NREC to consider 25% capital hike early November

Mubasher: National Real Estate (NREC) will hold its ordinary general meeting (OGM) on Thursday, 8 November, to discuss increasing its issued capital and fully pledging this raise to the creditor, Agility Investment Holding Limited. The …

Real estate

8 October 2018 11:00 AM National Real Estate to exit KWD 25m asset in Kuwait

Mubasher: National Real Estate announced it has signed a preliminary contract to sell Dasman Complex at a value of KWD 24.75 ($81.6 million), according to a bourse disclosure on Monday. The complex, located in Kuwait City, has a total land space …

Companies Investments

17 September 2018 11:05 AM NRE’s board nods to allocate 25% capital hike to Agility Investment

Mubasher: National Real Estate (NRE) on Monday announced that its shareholders had approved increasing the company’s share capital by 25.06% during a meeting held in the previous day.   The company will raise the issued share capital within the …

Corporate Actions

13 August 2018 03:03 PM NREC records KWD 6.77m profit in H1

Mubasher: National Real Estate Company (NREC) announced a net profit of KWD 6.77 million ($22.4 million) during the first six months of 2018. NREC has achieved a surge of 46.05% in total operating revenue to KWD 14.02 million in H1-18 when …

Financial Results

15 July 2018 11:29 AM Kuwait’s NREC capital to rise on Agility debt conversion

Mubasher: National Real Estate (NREC) announced that the Capital Markets Authority (CMA) has approved to settle a debt owed to Agility Investment Holding Limited, a subsidiary of Agility, by converting it to an equity in National Real Estate. NREC …

Trading Activities

14 May 2018 11:16 AM National Real Estate records KWD 4m profits in Q1

Mubasher: National real Estate achieved profits worth KWD 4.04 million ($13.42 million) in the first quarter of 2018. This result was 6.6% higher than KWD 3.79 million ($12.59 million) in the first quarter of 2017, according to a bourse statement …

Financial Results

10 May 2018 04:43 PM National Real Estate to pay 10% bonus for FY17

Mubasher: The ordinary general meeting (OGM) of National Real Estate approved the board’s recommendation to distribute 10% of the capital as bonus shares for fiscal year 2017. National Real Estate will distribute 10-for-100 shares as a bonus for …

Cash Dividends

19 April 2018 03:44 PM National Real Estate posts profit from selling KWD 10m property

Mubasher: National Real Estate has completed the procedures for registering Boubyan Complex, located in Dajeej area in Al Farwaniyah. The real estate company has sold Boubyan Complex for KWD 10.5 million, according to a bourse statement on …

Companies Investments

2 April 2018 10:04 AM National Real Estate posts profit from selling KWD 10m assets

Mubasher: National Real Estate has achieved a profit of KWD 277,000 from selling two properties in Kuwait City; Meshaal Tower and Al Wataniya Tower. The total land space of the two towers stands at 987 square meters, according to a bourse …

Companies Investments

12 March 2018 05:09 PM National Real Estate FY17 profits down 34%; dividends proposed

Mubasher: National Real Estate Company (NREC) posted a net loss of KWD 2 million during the fourth quarter of 2017 against a net profit worth KWD 5 million in the same period in the prior year, according to a recent statement. During fiscal year …

Board of Directors

27 February 2018 00:33 PM UAE’s Reem Mall seen as UPAC milestone in MENA – CEO

Mubasher: United Projects Company for Aviation Services (UPAC) has registered several investments in fiscal year 2017, namely related to developing the Reem Mall project in Abu Dhabi, the CEO and deputy chairman of UPAC, Nadia Akil, told Al Rai …

Companies Investments

13 February 2018 10:04 AM National Real Estate names new CEO

Mubasher: National Real Estate has appointed Faisal Jameel Al Sultan Al Essa as the new CEO. This new position will be effective starting from 5 May 2018, according to a bourse statement on Tuesday. The Kuwait-based firm noted that hiring Al Essa …

Board of Directors

12 February 2018 10:42 AM National Real Estate invests $207m in UAE’s Reem Mall

Mubasher: National Real Estate said that those who collaborated in the Reem Mall project in Abu Dhabi has met the final requirements needed for a recent credit facility contract. The contract is worth $457 million, according to a bourse statement …

Companies Investments