MoF yet to implement decision on forced eviction of National Real Estate Company from Souq Sharq

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KUWAIT CITY, March 7: The Ministry of Finance has yet to implement its decision on the forced eviction of National Real Estate Company (NREC) from Souq Sharq, reports Al-Rai daily. Previously, it was reported that the ministry sent a warning to the company last Thursday; stressing the need to “hand over the market before March 5; otherwise, there will be forced eviction.” In its response, the company stated the eviction decision was issued without any consequences.

The daily followed up the eviction issue early morning Monday and found out it was business as usual at the market. There were no teams concerned with the implementation of the forced eviction decision, except of the public security patrol stationed in front of the market in accordance with the security measures in all State facilities. Al-Qabas daily reported earlier that said with intense security support, the Ministry of Finance carried out today the forced eviction of Souq Sharq and transferred its management from the current owner the “National Real Estate Company” to Wafra Real Estate Company affiliated to the Public Institute for Social Security, pending a decision to offer it in a public auction to investors.

The handover process began with the maintenance, security and cleaning workers of the “Wafra Real Estate” company present at the market to ensure that work is running to the fullest and that the commercial movement does not stop when the Wafra Real Estate Company officially tool over the main control room and management offices, reports Al-Qabas daily.

This news has been read 19325 times!