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Al-Mutairi buys Al-Fanar Complex

07 Jan 2008

Al-Mutairi buys Al-Fanar Complex
The Al-Tamdin real estate company's Al-Fanar Complex, in Salmiya, is to be purchased by Kuwaiti businessman Saud Sahoud Al-Mutairi for KD 55 million.

Mr Al-Mutairi told Kuna that he was interested in buying further "distinguished real estate and complexes" in Salem Al-Mubarak street, the main shopping centre in Kuwait.

The Al-Fanar Complex covers a total area of 12,000 square metres, and Al-Mutairi said he would develop the centre and add more buildings.

In December Al-Mutairi signed a KD 35.5 million contract to buy the Al-Salam Complex, on the same street and has announced plans to demolish the building and redevelop the land as a modern shopping mall.

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