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Project registered $527mln sales within first week of launch Kuwait’s IFA Hotels & Resorts said on Wednesday it expects to book a fee income of around 7.4 million Kuwaiti dinars ($24 million) from the Al Tay Hills mixed-use project in Sharjah. This will be booked based on development progress of the project over the period of four years, IFA said in a statement on Kuwait bourse, where it is listed. The company is developing the project, which comprises 1,100 residential units and has an area of nearly six million square feet, on land owned by the Kuwait Real Estate Company (AQARAT). The $953mln project was officially launched in mid-January 2025. On Tuesday, the company said in a statement that it secured deals worth 2.1 billion UAE dirhams ($572 million) within just one week of launching the project. (1 US Dollar = 0.31 Kuwaiti dinars) |
