Real estate firms listed on the Boursa Kuwait reported operating revenues of 239 million dinars in the first half of 2024, up 3.4 percent from 231 million dinars in the same period of 2023.
This increase signifies a 79.1 million dinar gain over the prior year.
The Mabanee Company, which topped the sector with the highest operating revenues—66 million dinars, up from 61.8 million dinars—is one of the top performers. With revenues of 40.2 million dinars, down from 43 million dinars, the United Real Estate Company came in second, and the Salhia Real Estate Company took third place with revenues of 22.2 million dinars, up from 20 million dinars. The Kuwait Real Estate Company saw an increase in earnings from 14.7 million dinars to 15.8 million dinars. In contrast to 15 million dinars, Al-Tijaria Real Estate Company recorded revenues of 15.5 million dinars.
The companies with the biggest growth were Dar Al Thuraya Real Estate Company, which increased by 39.23 percent to reach 401 thousand dinars from 288 thousand dinars, and Ajyal Real Estate Entertainment Company, which saw the most notable growth of 44.4 percent, with revenues rising from 3.4 million dinars to 5 million dinars. Revenues at the Real Estate Trade and Investment Company increased by 39.2 percent to 2.8 million dinars from 2 million dinars, and at the Injazat Real Estate Development Company, revenues increased by 38.7 percent to 3.8 million dinars from 2.7 million dinars.
Revenues for the Al Argan International Real Estate Company increased from 10 million dinars to 13.5 million dinars, a 34.8 percent growth. The revenue of the companies listed below decreased: Aayan Real Estate Company saw a 17.6% decline in revenue to 4.2 million dinars from 5.1 million dinars; Real Estate Trade Centers saw a 47.6% decrease in revenue from 84 thousand dinars to 44 thousand dinars; and National Real Estate Company saw the largest decline, down 60.6 percent to 2.6 million dinars from 6.6 million dinars.
This is on top of Al-Arabiya Real Estate Company, whose revenues dropped from 4.8 million dinars to 3.9 million dinars, a 16.8% decrease; and Mazaya Holding Company, whose revenues dropped from 7.8 million dinars to 7 million dinars, a 10.3% decrease. The real estate industry has performed well overall, demonstrating resilience and continuous growth even in the face of difficulties faced by certain businesses.
