Tamdeen Real Estate Company gained KD5.016 million ($17.15 million) net profits in 2004, registering a 6.11% rise compared to 2003, while its total assets rose to KD202.249 million ($655.2 million), 55% more compared to the previous year, reported the Kuwaiti newspaper, Al-Watan on April 7, 2005.
Speaking with journalists on the occasion of the company's general assembly, general manager, Faisal A. Al-Medlij, announced that Tamdeen would start within two months to accomplish a large commercial complex in the sixth square, where in the past a drive-in cinema was located. The cost of this project will hit KD 65 million ($210.6 million) and it will be constructed on a wide area, thus the area for renting will reach 124,000 square meters.
