Banker Middle East awards KFH 'Best Home Finance Bank' award

This is where KFH managed to offer 30,000 Kuwaiti families houses, in addition to participating in several major projects of real estate development in Kuwait, the Gulf, and the world, such as Durrat Al-Bahrain and Diyar Al-Mahreq in Bahrain; Pavilion Tower in Malaysia; and the biggest real estate development project in Asia called Medini; in addition to Peninsula project in China.

The Local Real Estate Department Manager Salah Al-Khamees expressed while receiving the award KFH's appreciation and the pride it takes in winning this award, especially that the award revealed KFH's role to provide suitable houses for Kuwaitis, since Islamic banks play a major role in the real estate field and adds value to the society.

It is worth noting that KFH had won three important awards from Euromoney regarding real estate, which proves KFH's pioneer role in serving its clients and meeting their needs. The awards are Best Real Estate Financial Institution in the Middle East, Best Real Estate Finance Institution in Kuwait, and Best Financial Real Estate assessment Institution in Kuwait.

Al-Khamees added that the real estate assessment services include setting ideal evaluations for the appropriate market selling and acquisition rates, which includes offering data and advice in an advanced, fast, and accurate manner, not to mention conducting feasibility studies as an unbiased party.

Moreover, Al-Khamees announced that KFH participates in the basic investment plan for the biggest real estate development project in Malaysia, which is in Eskandar City in Medini. This area will link Malaysia and Singapore and will pave the way for integral services between the two countries. The project is expected to achieve a total development value that exceeds $6bn during the coming 10-15 years. The plan offers numerous development alternatives concerning smart cities. It is worth noting that KFH will develop the commercial area and the technological services centers by constructing offices towers, educational institutions, and technology and services centers, in addition to shopping malls and a residential area that houses villas and residential buildings on 2620 square kilometers out of 9660 square kilometers, which is the total project area.

Furthermore, KFH invested $275m in Peninsula Real Estate project, which is considered to be the largest real estate development project in Asia and is located between China and Hong Kong. The projects total cost $3bn and occupies 300,000 square meters. KFH has also paid $135m in managing, developing and marketing the Pavillion project that has a total value of $1.3bn. The project occupies 130,000 square meters in the heart of Kuala Lumpur.

Diyar Al-Mahreq project is one the largest projects executed in Bahrain and occupies 12 square kilometer, with a total value of $3.2bn. The project will offer residential options for middle class people, and the number of units is expected to be 30,000, which is enough to house 100,000 people. It is worth noting that the project has 1200 residential units for people with low income.

The first phase of Durrat Al-Bahrain project was delivered, and its expenses exceed $3bn. It is rendered to be a giant step forward towards developing living standards, since it can house 30,000 residents permanently, in addition to 4000 visitors daily. The project occupies 20 square kilometers taken from the sea and desert, and is located on the east coast of south Bahrain, and includes 13 islands that house 2000 villas and 3000 flats and hotels, in addition to golf courts, marine club, and shops.