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“NREC” achieved 20.5 million dinars net revenues in the first nine month of 2016

Kuwait - November 15, 2016
NREC

National Real Estate Company (NREC) in Kuwait revealed its success in achieving up to 11% increase in revenue during the third quarter of 2016, thus achieving the first nine months revenues up to 20.5 million dinars when compared to the same period of 2015.

It is worth mentioning that the company’s net profit during the third quarter only reached a value of 3.5 million Kuwaiti dinars, thus achieving a net profit for the first nine months, amounting to 11.1 million dinars, which, according to the company’s data 4.7% less for the same period last year.

The company’s CEO, Sameaa Sedeeky, stated that the company was able to achieve profits for its projects outside Kuwait and in spite of the outer economic challenges that had a significant impact on the low rate of profitability for the third quarter of this year when compared to 2015.

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