KUWAIT CITY, Jan 22: Kuwait Financial Centre “Markaz” has reaffirmed its position as a leader in the Middle East region’s real estate investment sector by earning two prestigious accolades from the Euromoney Awards 2024. Markaz has been recognized as ‘The Best Real Estate Investment Manager in the Middle East’ and ‘The Best Real Estate Investment Manager in Kuwait,’ highlighting its commitment to excellence and innovation in the regional real estate sector.
The awards reflect Markaz’s exceptional real estate results throughout 2024, driven by impressive fund performance, strategic development projects, and remarkable technological advancements in sustainability. Through innovative property management solutions introduced during the year, Markaz Real Estate Fund (MREF) has demonstrated efficiency in managing assets over more than 20 years. The latest recognitions bring Markaz’s total awards this year to nine, earned from esteemed platforms, including EMEA Finance, MEED, Euromoney, and Global Finance.
Milad Elia, Executive Vice President of MENA Real Estate at Markaz, commented on the awards: “We are delighted to conclude the year on a high note with these prestigious industry recognitions. Awards like these highlight the excellence of MREF, Kuwait’s first and oldest real estate fund, known for generating stable returns with monthly distributions while adhering to Islamic Shari’ah principles through investments in a diverse portfolio of local properties. These accolades reflect the exceptional efforts of our team in crafting sustainable and innovative solutions that cater to the evolving needs of our clients.”
Abdullatif Al-Nusif, Managing Director of Wealth Management and Business Development at Markaz, said: “Markaz’s outstanding achievements and recognitions in 2024 reiterate the company’s position as a leading partner in wealth creation. Since its inception 50 years ago, the financial institution has prioritized constant innovation and a client-focused approach. Our growing portfolio across both established and emerging markets will continue to deliver exciting opportunities for our investors. This achievement underlines our unwavering commitment to empowering our clients through tailored solutions and strategic investments.”
The award for the best real estate investment manager in the region emphasizes Markaz’s strong performance and adherence to the highest industry standards in serving institutional and individual investors. A hallmark of Markaz’s real estate projects is its focus on sustainability, exemplified by the integration of electric vehicle charging stations in luxury residential apartment towers such as Al Maha and Al Nada.
Markaz MENA Real Estate boasts a proven track record in actively managing assets, with current holdings across Kuwait, the UAE, Saudi Arabia, and the Levant valued at USD 953.8 million. Its domestic income-generating real estate portfolio stands at USD 619.6 million. MREF manages real estate assets totaling USD 253 million across 17 properties.
Markaz’s real estate expertise extends globally through its US-based international real estate arm, Mar-Gulf, and its in-house team in Kuwait. To date, Markaz has executed over 100 projects worth around USD 2.4 billion and currently manages approximately USD 700 million in assets, working with leading partners across the various real estate sectors.
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