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Sunday, 13 April 2008

Kuwait Finance House offers financing international real estate for over 7 years

The Domestic Real Estate Manager at Kuwait Finance House (KFH) Salah Al-Khamees said that financing real estate acquisition abroad has top priority in KFH's real estate

He added that it has expanded its business to cover most of the world, especially the ones that have high demand on real estate in the Gulf, Europe, Asia, the Middle East, and the States.

KFH can now provide the necessary finance for corporate, individuals, and institutions, in addition to its clients, whether Kuwaitis or expatriates, provided that their salaries are transferred to the bank. These clients can acquire residential units and pay installments for as long as 7 years, adhering to the banks policy in offering the best service for its clients.

Global real estate finance

He mentioned in a press release on the occasion of KFH's participation in the International Real Estate Exhibition from 14-18 April that KFH has started to offer the service of financing the acquisition of international real estate in 8 countries that include Makkah, Al-Madeenah, Bahrain, Oman, Egypt, UAE, Lebanon, Britain, Malaysia, and soon Turkey. Due to the growing trust of clients, whether corporate or individuals, and their desire to benefit from KFH's services, the management worked on expanding the field of service to cover most parts of the world, especially the important markets and countries that witness an active, safe and stable investing environment.

Al - Khamees added that KFH deals in some countries with trusted authorities that assist the client in arranging some matters related to the real estate he wants to acquire. Moreover, KFH is considering signing a contract with one of the authorities specialized in evaluating real estate in international markets, where it will offer an added value, an exceptional service and counseling to its clients who desire to acquire real estate in a country, before offering the finance needed by the client.

He said that KFH understands that acquiring a real estate or the desire to make a real estate investment is not an easy matter, it can be one of the most important decisions that a man can make in his life. Based on KFH long experience in the real estate market, KFH has put basic criteria that form a bouquet of quality services and consultation that has to be given to the client before any real estate investment, so that this investment can be fruitful and Shariah compliant. Al-Khamees mentioned that the real estate experiences that KFH offered during its participation in previous exhibitions have greatly succeeded, where many real estates were marketed in Pavilion Tower in Malaysia, and offered 2 real estate projects in Malaysia in Pening and Way Sun areas. The third project is a number of classy flats in Singapore.

New service

He stated that clients greatly benefit from the real estate financing abroad for its many benefits and flexibility in catering to their needs. He added that KFH will offer a new service during the exhibition called 'Murabaha'. This service allows clients to acquire real estate they want in any part of the world, financed by KFH with great facilities.

Al-Khamees stressed that Murabaha is still the best choice for acquisition and that it offers the best benefits for clients, like stable prices with competitive profits among several scenarios regarding the future updates in the real estate market in Kuwait and the area. He also clarified that the business strategy that the Domestic Real Estate Department follows is maintaining the income and achieving returns on the invested money by increasing sales, offering new products and services in the Kuwaiti market, entering the Gulf market, and some global and Islamic markets.

Financing projects abroad

Al-khamees announced that the construction projects financing services for common individuals, Kuwaiti investors and Kuwaiti corporate abroad will be available during the exhibition, where whoever is interested in financing his project abroad can show the details of his project to experts who will be attending the exhibition. These experts can decide whether to finance the project or not, whether this project was real estate, industrial, or other.

The financing will be Shariah compliant like Istisnaa, Ijarah, Murabaha, and others. He mentioned that these important roles are services that KFH offers to his clients, Kuwaiti investors and national corporate, which will broaden its business scope and reinforce its projects abroad.

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