The Kuwait Investment Authority is serious about exiting the National Real Estate Portfolio in two phases according to the plan. The first will take place through a public auction to sell nearly half of the assets of the real estate portfolio on December 28, and the second is currently being arranged in coordination with specialized agencies to display the rest of the real estate assets through public auction as well.
Senior sources in the authority told Al-Rai the exit output from the portfolio will be transferred to the accounts of the State General Reserve Fund, which is managed by the ‘Investment Authority’, within the framework of the continuous support for the fund’s liquidity, noting that the face value of these real estate is 230 million dinars, but market assessments may push the value to levels exceeding 300 million dinars, if desire is to purchase during the auction.
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