Top 10 REITs in the Middle East
40 AL QUDRA HOLDING
Market Value: $183 million
Based in Abu Dhabi, U.A.E., Al Qudra Holding recorded an increase in profitability for the seventh year running, with a consolidated net profit of $58 million for 2018.
41 RESIDENCES DAR SAADA
Market Value: $166 million
Established: 2001 Residences Dar Saada listed its stocks in the Casablanca stock exchange through a capital increase of $134 million, which represents 20% of its capital.
42 AL MAZAYA HOLDING COMPANY
Market Value: $128 million
Ritim Istanbul is Al Mazaya Holding Company's first project in Turkey, which consists of six mixed-use towers on an area covering 39,000 square meters.
43 ALLIANCES GROUP
Market Value: $113 million
Since inception, Alliances has delivered 40 real estate and tourist projects, and 30 hotels, as well as developed two industrial zones.
44 INJAZZAT REAL ESTATE DEVELOPMENT COMPANY
Market Value: $104 million
Injazzat is developing the Catamaran Residence in Bahrain, which will comprise of 571 luxurious apartments and two towers.
45 ALARGAN INTERNATIONAL REAL ESTATE COMPANY
Market Value: $94 million
In 2018, Alargan inaugurated its newest commercial destination, ARGANIA, a uniquely designed complex that stands out with its openair space and fountains, breaking away from the industrial blocks in Kuwait's Shuwaikh area.
46 A’AYAN LEASING AND INVESTMENT COMPANY
Market Value: $92 million
A'ayan Leasing and Investment Company was established in 1999 as a shareholding closed Kuwaiti corporation, with capital of $69 million.
47 AJIAL REAL ESTATE AND ENTERTAINMENT COMPANY
Market Value: $85 million
A key project is the Ajial Mall, which covers a total built up area of around 24,000 square meters and includes retail, food and beverage offerings, cinemas and offices.
48 KUWAIT BUSINESS TOWN
Market Value: $84 million
The Kuwait Business Town is strategically located in the financial district, offering commercial spaces, multi-storey car parking and hospitality services.
49 AL-ENMAA REAL ESTATE COMPANY
Market Value: $71.5 million
Established: 1993 Al-Enmaa Real Estate Company was launched with capital of over $3.2 million and was one of the first companies established by Kuwait Finance House.
50 ARKAN AL-KUWAIT REAL ESTATE COMPANY
Market Value: $66 million Established: 2003
In April, Arkan Al-Kuwait Real Estate Company's projects under implementation, and its acquisitions for the remaining of 2019, were valued at $72.5 million and $121 million.