Kuwait – Mubasher: National Real Estate Company (NREC) said its shareholders approved to withhold dividends for 2016, according to a statement.
This step came to meet the demands of the company’s growth.
During their ordinary general meeting (OGM), the shareholders also approved all the agenda’s items announced in mid-May.
The company announced earlier that its shareholder will consider early June a loan worth KWD 31 million ($101.6 million) from Agility Investment Holding Limited, an affiliate of Agility Public Warehousing.
Although economic conditions in the region did not improve, NREC’s overall performance was better than that of the real estate sector in terms of sales, according to the company's deputy chairman Jameel Sultan Al Essa.
