Kuwait-based Commercial Real Estate Company on Tuesday reported profits of KD 23.2 million for the second quarter of 2006 compared to KD 16.7 million for the corresponding period last year. This reflects an increase of 39 percent for the period, the company's CEO Abdel-Fattah Maarafi said, according to Kuna.
He added that the profits came from local, regional and international investments.
According to him, the second quarter of 2006 was marked by the creation of a Kuwaiti consortium of companies including the Commercial Real estate Company, the Market Compounds company and the Industrial and Financial Investments company as well as the Masaa' company for Real Estate Development and the Hajj and Omra company.
He stressed that the company would "enter more ambitious projects in the future."
