Construction

Kuwait’s Al-Themar to venture into Saudi real estate market

Company investing in land and commercial development in Kingdom

Kuwait’s Al-Themar International Holding Company has said it is eyeing opportunities in the regional real estate market of the GCC after its shareholders elected a new board for the next three years.

With a debt-free balance sheet, Al-Themar has already started venturing into real estate projects in Saudi Arabia by investing in land and commercial development, vice chairman Khaled Sulaiman Al-Ali told Al-Qabas Arabic language daily, pointing out that the company will focus on expansion in this direction in the near future.

The company has reported a fall in its total assets during the second quarter to $557m, compared with $586.5m a year earlier. Total revenue also dropped from $28m to $8.2m.

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