- Company News
Injazzat Real Estate Development Company announces that it has acquired an effective building in the headquarter of Valpak (a US company) on 12 December 2017, located in St. Petersburg, Florida, USA, and leased by the company with a long term renewable contract. The company's share of capital is US $ 16.6 million (equivalent to KD 5 million). The investment is expected to yield a cash dividend of 10% per annum on the invested amount (500,000 dinars per annum) as of December 2017.
Injazzat Real Estate Development Company has signed an acquisition contract worth KD 3,088,400 which equates to 35% of the shares of an associate company (Kuwaiti Closed) Increasing Injazzat shares in the subsidiary company to 70%. The profit from the transaction will result in KD 260,000 and is expected to have a positive impact on the financial performance and financial position that will be reflected in the financial statements for the year ended 31 December 2017.
As part of Injazzat Real Estate Development Company’s commitment to corporate social responsibility, the company will provide Child Life Sponsorship to Kuwait Association for the Care of Children in Hospital (KACCH). Kuwait Association for the Care of Children in Hospital (KACCH) is a non-governmental charitable organisation registered with the Ministry of Social Affairs and Labour in 2003. It was founded informally in 1989 to help children and their families cope with the stresses of hospitalisation. It is managed by volunteers and funded by donations from organisations, businesses, banks, schools and individuals within Kuwait. Currently KACCH is offering Child Life services ...