Real Estate Kuwaiti developer Aqarat to raise capital by 15% By Nadim Kawach June 18, 2025, 6:12 PM Alamy/Joseph Creamer via Reuters Connect Construction in Kuwait City. Kuwait's real estate sector 'was buoyant in the first nine months of last year', research has found Expansion plans Projects in Kuwait and UAE Share price up 49% A listed Kuwaiti developer is planning to boost its capital by 15 percent to fund expansion. Kuwait Real Estate Company, known as Aqarat, said its board would meet on Wednesday to approve procedures for the increase. The company is working on major projects in Kuwait and the UAE – and both countries’ real estate sectors are forecast to surge this year. The Aqarat board endorsed the expansion plan at its meeting in March but did not provide details of the cash injection. “The capital increase of 15 percent is for the purpose of expanding the company’s operational activities,” it said in a bourse statement this week. At the end of 2024, Aqarat had paid-up capital of KWD100 million ($330 million) and assets of nearly $1.5 billion, according to its annual report. Its market capitalisation at the end of last year was about $2.7 billion. Aqarat is currently building thousands of houses for foreign workers in Kuwait. It is also working on a $1 billion project in the emirate of Sharjah. The development of nearly 1,100 villas and townhouses is set for completion in early 2028. Aqarat’s shares closed at KD360 on Wednesday, up 49 percent year to date. Markaz, a Kuwaiti asset manager and investment bank, expects the real estate sectors of Kuwait, the UAE and Saudi Arabia to gain momentum this year. Kuwaiti oil company gets offer to sell UAE subsidiary Opinion: UAE real estate becomes a global shock absorber The KIA maintains its low-profile approach – for now In a report published before the outbreak of conflict between Iran and Israel rattled Gulf markets, Markaz wrote: “Prospects for the real estate sector in those countries remain good this year and in the long term despite short-term fluctuations… this will create attractive opportunities for investment and development.” “The sector in Kuwait was buoyant in the first nine months of last year compared with the same period of the previous year,” it said. “Property prices increased by 3.3 percent in the third quarter year on year and land prices were up by 7.6 percent.” Aqarat’s expansion plan follows a decision by Kuwait in February to ease some of its longstanding restrictions on foreign residents buying property. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
