By: Mahmoud Gamal

The Real Estate Trade Centers’ (Marakez) financial results in 2014 took a positive turn because the firm’s largest shareholder Abdul-Hamid Dashti gave part of its stake, totaling KWD 250,000, to the company, secretary and financial manager Ayman Wadi told Mubasher.

Marakez posted a net profit of KWD 110,600 ($369,000) in 2014, compared to KWD 129,500 ($431,900) in 2013.

The board of directors has recommended a capital increase by KWD 1.9 million to be collected from the creditors.

“Dashti’s stake will help in growing the anticipated capital increase,” added Wadi.

Wadi noted that Marakez is currently focusing on completing a resort project in Kuwait’s North Sabhan.

Marakez registers a capital of KWD 11.55 million, distributed on 115.5 million shares with a par value of 100 fils per share.