KIB real estate unit sees growth
Kuwait, September 16, 2012
Kuwait International Bank (KIB) said its real estate appraisal unit has registered solid growth handling many roles and responsibilities in the Kuwaiti market including appraisal of different types of properties.
Since its incorporation in 1973, the real estate appraisal division (Read) unit has been developing until it became a key reference for governmental authorities, local banks, financial institutions, investment and real estate companies, said a KIB statement.
The division was nominated by Kuwait central Bank to appraise debts settlement real estates in 1986 and has been recently named to undertake real estate appraisal for the companies governed by the Financial Stability Law.
Moreover, it has been certified as one of the entities authorized to evaluate the projects of partnership Technical Bureau affiliated to the Ministry of Finance, in accordance with Law No. 7 of 2008.
The KIB unit, which has been approved by the governmental authorities and supervised by a team of professional engineers, has expanded its record of achievements in the real estate market in the country this year.
Read has recently received the approval of the Ministry of Trade and Commerce as a certified appraiser attributable to the accumulated experience of the division’s technical team, in addition to the credibility and confidentiality of dealing with customers.
KIB real estate division head George Aghajanian said, "Read applies both world renown and technical approaches to its appraisal methods, and due to its high professional performance over the past years, the division has gained the government and market trust, as CBK has recently assigned KIB as one of the authorized parties to appraise real estate to local banks in Kuwait."
More Construction & Real Estate Stories
- Asian skyscraper prices tower over rest of the world
- Tamleek opens new office in Dubai
- $29m allocated for Bahrain drainage projects
- Indian group plans $300m Bahrain Bay investment
- Drake and Scull awards key supply contract
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand
- HUGE DEAL: Arabtec inks $40bn Egypt housing project
- Galfar ex-CEO gets 15 years' jail over bribes
- $32m BFH car park work underway
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings