Much false and fabricated information are transmitted through social media. Some companies use celebrities through blogger and fashionista to promote real-estate units valued tens or hundreds of thousand KWD due to the false and unreal information in the real-estate market, many people call for a serious interference by authorities to supervise and control such practices so as to ensure the integrity and truthfulness in the Kuwaiti real-estate market.
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Meshal Al-Melhem, Blueprint’s CEO, said that Blueprint Holding Co. intends to increase its capital and to expand its activities to new markets. The activities and services will open new offices in Manchester along with London offices.
Al-Melhem noted that Kuwait needs to establish an institute for real-estate studies to provide scientific experience in this vial economic sector. Blueprint has taken serious steps to establish such an institute.
He emphasized the need to change the real estate fees imposed by the government. Al-Melhem concluded that there is no crisis in financing the Kuwaiti real-estate activities.
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Eng. Meshal Al-Melhem, Blueprint Executive Manager, said that most of this land can be sold or changed into a housing area (suitable for building housing units). It is very difficult – or even impossible to issue road building licenses for these lands.
The two companies – Blueprint & Knight Frank are going to hold a seminar to explain this critical situation in the near future. Customers should be more aware in this respect.
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The sterling pound was down 13.3% against the dinar. The Turkish lira was 17% down and the Egyptian pound was 55% down through the last year. ‘’any investor can feel this loss only when he intends to sell his real- estate and get the price in Kuwaiti dinar, this is not the proper time for selling real-estates.” say experts.
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In an interview to Industry and Development magazine, Mr. Meshal Al-Melhem, deputy Chairman and CEO of Blueprint Holding Co. Emphasized that identifying Kuwait’s real-estate sector is not confined only to the one his company is investing in, but also to other sectors such as the industrial, financial and petrol sectors. That is why his investment experience is always growing both on the local and international levels.
He knows very well that any kind of investment depends on complete, comprehensive and effectual studies. He is always trying to let the young and the inexperienced local investors to benefit from his experience and have bigger returns from their capitals.
He says that Kuwaiti Government now is more interested in other fields of investment besides oil such as industry in some Kuwaiti regions in Shuwaikh, Subhan and other regions.
The Middle East turbulences, oil low prices, the passive results of the Arab Spring Revolution and Donald Trump’s success in the American latest presidential elections, these changes still have their drastic effects on the world economy and the international investment movement which led to the devaluation of the Sterling pound and the inability to take quick and decisive decisions in so far as the right kind of investment is concerned.
More feelings of doubt and fear are expected especially after the Sterling floatation.
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The visit includes hosting the representatives of Knight Frank Company specialized in real-estate consultations. Al-Melhem explained that the economic and financial circumstances are very encouraging and benefit the real- estate investment in UK.
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Meshal Al-Melhem Deputy Chairman and CEO of Blueprint Holding Co. and executive manager of Al-Shahed, emphasized that the most needed quality of an investor is to make a best choice for an investment.
90% of the Real-Estate investors find that their investments have failed as they did not spend enough time to study the methods and mechanism of their investment to gain their long-awaited results. The investor should be aware of different details i. e. the governmental fees of water, electricity and taxes.
James Lewis, Manager of Middle East’s Office of Knight Frank International Real-Estate Consultations, stated that the atmosphere of investment in general and real-estate investment in particular is encouraging and promising in the United Kingdom.
Lewis explained that the Kuwaiti investor is a long run investor and a farsighted one who knows the safe investment havens. He also advised not to invest in Turkey now and the Egyptian market is unstable.
He noted that the rich Arabs are now buying in Switzerland. He concluded that UK, Spain and Dubai are the most needed as investment destinations.
Al- Rased report issued by Al- Rased Real-Estate EST. showed that real- estate prices witnessed a 3.25% increase in 20 British cities at the end of July 2016. The total rate of the last twelve months is up to 9%. This also came as a result of the lower value of the Egyptian pound.
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