Kuwaiti firm buys land in Dubai
The Kuwait-based Arab Real Estate Company announced the purchasing of land in "The Commercial Gulf" ("Al-Khalij al-Tijari") Project in Dubai for 8.85 million Emirate Dirham ($30.1 million), reported the Kuwaiti newspaper Al-Rai al-Aam on September 21.
The land's area is 73,000 square meters and it will be used for construction of
a commercial center, which will include shops, restaurants, entertainment halls and parking lots.
Arab Real Estate Company is engaged in commercial real estate operations, construction and related trading activities. The commercial real estate activities include rental, purchase and sale of land and property.