Al-Jaddaf Real Estate Company declared Sunday the start of the subscription to increase its capital from KD 1 million to KD 24 before it starts executing the Avenues project in Dubai by 2009.
Al-Jaddaf is owned by A'ayan Real Estate Company (21.9 percent), and Bina wa Nama Investment Company (15.6 percent), while the rest would be offered in subscription, he added.
Al-Jaddaf would develop and invest its Avenues project for 30 years through the BOT system, Kuna reported. The project, valued at KD 59.3 million, includes four office towers with a total building space of 137,500 square meters in addition to a 9,000-car parking lot.
