Mubasher: Mabanee Co, among a consortium of Kuwaiti companies, received a letter of notification on Monday from the Public Authority for Housing Welfare awarding the investment opportunity “J3” in Jaber Al Ahmad Residential City.
As Mabanee submitted the best offers, the offer has been named Mabanee consortium, the “best investor”, according to a bourse statement.
The company will announce further details once the partnership procedures are completed.
Moreover, the consortium includes the National Industries Group Holding, Privatization Holding Company, and Mabanee, noting that the last two firms are associated companies of National Industries.
It is worthy to note that during the first nine months of 2019, Mabanee’s profit increased by 7.9% at KWD 42.31 million when compared to KWD 39.23 million in the corresponding period in 2018.
