Kuwait city: Kuwait Red Crescent Society (KRCS) and Aayan Real Estate Company have officially entered into a property management contract aimed at enhancing KRCS's investment assets and operational efficiency both within Kuwait and internationally.
According to Kuwait News Agency, Khaled Al-Mughamis, Chairman of the Board of Directors of KRCS, stated that Aayan Real Estate Company will conduct a comprehensive study to evaluate rental prices in accordance with the latest developments in the local real estate market. This initiative will also involve periodic studies to analyze and recommend strategies for optimal property use to maximize returns.
The contract extends to include full supervision of maintenance activities, comprehensive property management, and the offering of investment units at fair market values. These units will be reviewed periodically to ensure they uphold the rights of all stakeholders while serving the public interest. Al-Mughamis added that Aayan will be responsible for overseeing investor compliance with contract terms, ensuring the quality and maintenance of property facilities, and handling collections and legal matters related to property management.
In his remarks to KUNA, Abdullah Al-Khamiri, Director of Real Estate and Third-Party Property Management at Aayan Real Estate Company, emphasized that this collaboration represents a significant partnership with a prominent humanitarian organization. The management of KRCS's assets will follow a precise methodology designed to increase asset management efficiency, improve operational and investment returns, and bolster financial control systems for maximum transparency.
Al-Khamiri further explained that the methodology will focus on enhancing tenant experiences, improving service quality, and executing maintenance plans to prolong asset life and improve operational standards. He noted that this partnership aligns with Aayan Real Estate Company's vision of bolstering the private sector's role in supporting humanitarian institutions through resource development and program sustainability.
The company's specialized team is set to develop a comprehensive operational plan for KRCS's assets, which includes an assessment of the current situation, the development of improvement programs, and the implementation of Key Performance Indicators (KPIs) to consistently measure and monitor outcomes.