Jadeite Group announces its first private residential building ‘Jade’
Group strives to leave a mark on Kuwait’s real estate landscape
KUWAIT: The Jadeite Group announced the signing of a contract for the construction of its first private residential building under the name Jade. The decision was announced at a press conference held at the Holiday Inn Hotel in Salmiya on Thursday.
The Jadeite Group is a closed shareholding company established on November 16 , 2016 that aims to raise the level of residential and commercial real estate in Kuwait. Through Jade, the real estate developer seeks to implement design excellence, execute distinctive construction mechanisms, as well as redirect the market’s focus from developing structures solely for the purpose of profitable gain, but instead emphasize on providing superior standards of living.
As a prestigious property developer, The Jadeite Group strives to leave a mark on Kuwait’s real estate landscape and aims to elevate Kuwait’s infrastructure. The Jadeite Group are confident that the clients of Jade will have a strong appeal to the project.
“The Jadeite Group intends to develop properties that are masterpieces throughout the region, while helping to establish visionary business concepts. With a primary focus on real estate development and ownership, The Jadeite Group has a specific interest in residential and commercial towers. The Group places secondary focus on assisting, partnering with, and establishing truly outstanding businesses and startups. With a passion for quality, commitment to ethics, and a roster of long-term professional relationships, The Jadeite Group is a world-class business you can trust,” said Mohammed Al-Matrouk, Chairman, Jadeite Group.
Between the 1960s and 1970s when Kuwait’s infrastructure was on the brink of development, buildings erected during this period were characterized with distinct designs and unique quality. “Unfortunately, those standards are rarely applied today. Property developers have prioritized their strategy on financial returns, consequently overlooking design and quality features. It is evident throughout the country’s residential areas that there’s a lack of originality coupled with poor construction practices. As a result, the majority of structures lack uniqueness as well as a sense of safety,” he added.
“It is also clear that car parks have become a major
New project expected to raise real estate standard
problem, especially in residential zone areas, where tenants often struggle to park their vehicles. In addition to scarcity of car park space, landlords have resorted to renting out their building’s basement for storage purposes in return for not providing parking services to tenants,” stressed AlMatrouk.
“Furthermore, smallsize apartments have now become the standard, averaging 60 square meters for a twobedroom space, which is not ideal for comfortable living. Another common problem is the hegemony of the guards that look after the residential towers and often exploit tenants in numerous ways, which is a dissatisfaction in the market,” he further said.
The Jadeite Group derives its name from the precious jewel that’s characterized for its clarity, quality, and high-value properties. Similar to the eponym gemstone, the company’s philosophies are based on superior quality, ethics, and integrity. In addition to the principle that honesty establishes long-term trust between the organization and their clients, Jadeite’s properties are built with the highest quality materials and the best construction practices. Each property owned by Jadeite Group is an icon; elevating the design and quality standards in its surrounding areas.
The Jade building is designed by award-winning architecture firm Studio Toggle and will be constructed by reputable local contractor Back Combined Co. The three organizations share a common goal: Building a uniquely-designed housing project in Kuwait.
Jade is a unique building that will appeal to its clients. “It’s equipped with a vast car park that covers the lower two basement floors that provides convenience to tenants. It also offers spacious and comfortable apartments, which are flooded with a great deal of natural lighting. The management of the building will be entrusted to professionals who are well-versed with technology and are quick to respond to maintenance services through the modern application and automation aspect of the property,” he explained.
“Jadeite Group is confident that Jade will mark the beginning of change in the local real estate development market and strongly believes in the positive impact of this modern state-of-the-art building,” concluded Al-Matrouk.