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Kuwait’s Murabahat to exit from 2 project in Turkey, KSA

Kuwait’s Murabahat to exit from 2 project in Turkey, KSA
The Kuwaiti company owns 25% stake in the project which is undergoing in Saudi Arabia.

Mubasher: Kuwait-based Murabahat Investment Company will complete two real estate projects in in Turkey and Saudi Arabia in the second half of 2018 and after that it will exit from them, said the deputy chairman and CEO Faisal Almadleg.

The firm will implement a real estate project in Turkey at a value of KWD 5 million and it develops another one in Saudi Arabia in collaboration with other parties at a value of KWD 10 million, the CEO added.

The Kuwaiti company owns 25% stake in the project which is undergoing in Saudi Arabia.

Murabahat announced that it does not plan to invest in the domestic market in the coming period.