The Kuwait-based investor Markaz had a strong year in Kuwait real estate, marked by impressive fund performance, strategic development projects, technological advancements and a achievements in sustainability.
Its flagship fund, the Market Real Estate Fund, has consistently outperformed market expectations, generating annual returns of 7-8% on its $248 million asset base.
Within its diverse portfolio, Markaz has navigated 12 development projects, successfully exiting 10, with another two currently in the exit phase.
In Kuwait, Markaz was actively engaged in BOT projects, focusing on ambitious ventures such as a $300 million cultural and recreational project in Kuwait City.
On the technological front, the firm’s new property management solution has streamlined reporting and consolidated financial data, significantly enhancing operational efficiency. The platform-integrated software by Yardi (a UK proptech company) enabled greater efficiency in managing properties across the MENA region.
Markaz continued to support sustainable living in Kuwait, most recently by introducing electric vehicle charging stations at the Al Maha and Al Nada residential apartment towers in Kuwait. These facilities, provided at no charge to residents, help promote energy-efficient transportation, while fostering a culture of sustainability among tenants.