Trio launch Gulf real estate venture

02 January 2008

A QR1bn ($274m) real estate company is being launched in a three-way venture between Industries Qatar, Qatar Real Estate Company and Kuwait’s Al-Koot Insurance & Reinsurance Company.

The joint venture will buy, sell and manage residential, commercial and industrial property. It will also trade land as well as reclaim land for development.

The three investors will all take an equal stake in the company. It is expected to start operations in the first quarter of the year.

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