Kuwaiti, UAE invest heavily in real-estate

Hefty Kuwaiti funding of real-estate enterprises in Kuwait and the United Arab Emirates constitute basis for building solid and sustainable economies in all of the GCC member states, said the visiting Kuwaiti Minister of State for Cabinet Affairs here on Monday. Many ventures and construction projects, namely in the real-estate sector, are financed with Kuwaiti and UAE funds, "and this fact constitutes basis for establishing solid and viable economies in the Gulf," said Sheikh Mohammad Abdullah Al-Sabah, also the Minister of Health, in a statement to reporters after opening the Kuwaiti exhibition, "the second Kuwaiti week in Dubai." This event constitutes an opportunity to benefit from Dubai's successful experience in tourism and investments, Sheikh Mohammad added. The three-day Kuwaiti fair involves more than 50 public and private institutions and authorities from Kuwait and the UAE. Sheikh Mohammad, meanwhile, concluded his brief visit to the Dubai, flying back home. The GCC, founded in the early 80s, comprises Kuwait, the UAE, Saudi Arabia, Oman, Qatar and Bahrain