Kuwait, 10 March, 2018: Kuwait Finance House (KFH), and Kuwait Projects Company Holding (KIPCO), signed a Memorandum of Cooperation ‘MOC’ stating that KFH offers

Sharia-compliant financing solutions for individual purchasers of residential or commercial

property in Hessah AlMubarak District real estate development project. This project is

considered as a masterpiece of urban development projects of the company and the most

prominent real estate project in the Capital.

KFH-Group CEO, Mazin Saad Al-Nahedh affirmed KFH support to the Kuwaiti companies

and to the mega development projects, while developing its individual finance services,

indicating the bank will offer financing solutions to the individuals purchasers to buy units

in the project as per the MOC. KFH puts its capabilities and expertise to make this project a

success. KFH provides advantages to KFH customers within a range of facilities that

encourage all those wishing to purchase from the project.

He added, in press release on the sidelines of signing the MOC with KIPCO, that KFH offers

a wide range of sharia-complaint financial services to meet customers’ financing needs.

The bank offers products of Ijara, Murabaha, and financing against collateral. Also, KFH

provides customers with financing services for purchasing, finishing and even furnishing

not to mention consulting services by a distinguished group of experienced staff in the

construction and finishing stages.

KFH Data Classification: Commercial In Confidence

He continued “KFH views Hessah AlMubarak District project as a unique investment in real estate. It carries an idea and a call for citizens to live in the capital and adopts the approach of vertical housing, which makes it a model that we hope will succeed. This encourages the adoption of sophisticated ideas to contribute to solving the housing problem in Kuwait.”

Al-Nahedh indicated the scope of KFH’s business extends from the local market to the

global and regional markets. This confirms the diversity and suitability of KFH’s financing

solutions. KFH participated in financing terminal II building for Kuwait International Airport,

and has signed an MOC to finance the customers of the Hessah AlMubarak District project.

It also continues to finance the SMEs. He pointed out that KFH operations in the market

aims at strengthening partnership and cooperation to serve the national economy.

Meanwhile, KIPCO Group Chief Operating Officer, Samer Khanachet, said: “As the master

planner of Hessah Al Mubarak District, KIPCO is delighted to be working with leading

financial institutions to provide financing options for future residents. With this

memorandum of cooperation, we are looking forward to working with KFH to offer Sharia

compliant financing solutions for individual purchasers of residential or commercial

property in the district.”

He added: “At the end of 2017, we completed the infrastructure work for Hessah Al

Mubarak District. As the district’s master planner, KIPCO has been keen to ensure that

future residents and visitors of our district enjoy an unprecedented experience.

Construction work and the development of land plots will begin once all necessary

handovers of public facilities has been made to government entities. This will include our

real estate arm, United Real Estate.” Hessah Al Mubarak District is the first-ever

comprehensive, mixed-use district in Kuwait. With its unique location overlooking the sea,

and its close proximity to the downtown business hub, the district promises its future

residents, visitors and those who work there an unprecedented experience. The urban

cluster will combine leisure, shopping, offices and living areas with the assurance of

delivering quality lifestyle.