Kuwait real estate cos see growth in assets, liabilities during 2023

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KUWAIT CITY, April 9: The value of assets held by real estate companies listed on the Kuwait Stock Exchange totaled 5.8 billion dinars for the fiscal year ending December 31, 2023, marking a 4.3 percent increase from the 5.55 billion dinars recorded during the same period in 2022, reports Al-Jarida daily. Conversely, the liabilities of these real estate companies amounted to approximately 2.89 billion dinars in 2023, reflecting a 5.1 percent increase from the 2.75 billion dinars reported in 2022.

These liabilities represented about 49.9 percent of the total assets of the companies. Mabanee Company led the real estate companies in terms of asset value, reaching 1.35 billion dinars, followed by United Real Estate Company with assets worth 665.4 million dinars and Tamdeen Real Estate with assets totaling 562.5 million dinars. Among the companies that experienced significant asset growth, Sanam Real Estate Company saw the highest increase of 35.7 percent, followed by Mabanee Company with a growth rate of 19.4 percent.

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