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FINANCIAL NEWS
Kuwait’s Al Mazaya profit up 631 percent in H1
21 Jul 2014
(MENAFN) Net profit of Kuwait’s Al Mazaya Holding Group was estimated at USD10.97 Million in the first six months of the current year, which is 631 percent higher than the same period 2013, according to Gulf News.
The Kuwait- and Dubai-listed company said the significant growth in its profit resulted from increased occupancy rates in recently completed residential developments and strong rental yields.
Ebrahim Al Saq’abi, Al Mazaya Group chief executive, said: “We have enjoyed a good start to 2014, marked by strong demand for residential and commercial premises.”
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