According to Al-Rai Al-Aam newspaper (June 8, 2005), the Al-Ola Investment Company is expected to soon finish the establishment procedures of the new Al-Ola Real Estate Investment Company.
The Al-Ola Investment Company closed the subscription to the new company, which amounted to KD 23.42 million, according to the previously determined schedule. A senior company source revealed that the new company's capital was previously determined at KD 20 million, yet, the subscription demand by individuals and companies exceeded that volume. The new company aims to diversify the investment channels and to take advantage of the rapidly expanding real estate sector in the region.
