Al Masaken International Real Estate Development

What Al Masaken International Real Estate Development does

Al Masaken International Real Estate Development (المساكن الدولية للتطوير العقاري ش.م.ك.ع) is a Kuwaiti public shareholding company (K.P.S.C.) traded on the Kuwait Stock Exchange (ticker: MASAKEN), headquartered at Al Hamra Commercial Tower in Kuwait City. Founded circa 2006, the company specializes in real estate development and investment across residential, commercial, and investment property categories. Its core activity is project-based real estate development delivered through direct contracts, with strategic dependence on Kuwait's Public Authority for Housing Welfare (PAAH) via the 'Ard wa Qard' (Land and Loan) housing program and the 'Mink al-Ard wa Alaina al-Binyan' (Land and Construction) campaign, which provide design and construction services for residential plots allocated to Kuwaiti citizens. The company also holds international assets in the United Kingdom, including the Kinnerton Street project and Regent Gates London, and operates the Masaken residential tower in Al Mahboula, Kuwait.

The company's business model combines project-based real estate development (one-time, project-specific design and construction engagements) with managed real estate investment and asset management activities that generate rental income and capital appreciation on its owned portfolio. Customers are primarily Kuwaiti citizens benefiting from PAAH programs and private plot owners from PAAH allocations, with additional institutional and high-net-worth demand for the UK assets. The go-to-market is direct sales-led, with pricing conducted on a quote-based, per-project basis rather than through disclosed price lists. Marketing and stakeholder communication rely on the corporate website, mandatory regulatory disclosures to the Capital Markets Authority, and direct investor relations engagement.

Financially, the company is in a phase of significant distress. A capital restructuring was approved in 2026 with shareholder backing, accompanied by an ongoing stock trading suspension, a Board of Directors report addressing causes of losses and risk factors, an execution file opened by a local bank under a Murabaha contract, and a separate debt-settlement agreement with a creditor bank. The company also underwent an earlier capital reduction in 2016. Leadership was refreshed with Adel Hamad Al-Roumi appointed CEO in 2023 and a new Board formed in 2025 under Chairman Ahmed Ghsan Al-Khalid. Disclosed financials in the source material are not reliable (revenue is null and provided multi-year line items contain implausible magnitudes), constraining quantitative analysis.

Name

Al Masaken International Real Estate Development

Legal name

Al Masaken International Real Estate Development Company K.P.S.C. (شركة المساكن الدولية للتطوير العقاري ش.م.ك.ع)

Website

https://masakenint.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Al Masaken International Real Estate Development is a Kuwaiti public real estate developer specializing in residential, commercial, and investment property projects, serving PAAH housing-program beneficiaries and private plot owners in Kuwait alongside UK residential assets.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (2372), New Housing For-Sale Builders (236117), New Multifamily Housing Construction (except For-Sale Builders) (236116), Lessors of Residential Buildings and Dwellings (53111)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), Operative Builders (1531), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

akta.pro secondary industries

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

Keywords

• Real estate development
• Property investment
• Housing development
• Asset management
• Commercial properties

Headquarters

HQ city

Kuwait

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Real Estate Development: Developing residential, commercial, and investment properties in Kuwait and internationally, including design and construction services for government housing programs and private clients.
2. Real Estate Investment: Investing in real estate assets and managing property portfolios for rental income and capital appreciation.
3. Asset Management: Managing and administering owned properties and assets to maximize returns for shareholders.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Al Masaken International Real Estate Development is a Kuwaiti public shareholding company that develops, invests in, and manages residential and commercial real estate assets. The company partners with the Public Authority for Housing Welfare (PAHW) to deliver housing programs and develops commercial/investment properties in Kuwait and the United Kingdom (London) for institutional and individual buyers.

Product overview

Al Masaken International Real Estate Development is a Kuwaiti real estate development company (ش.م.ك.ع) specializing in residential, commercial, and investment property development. The company operates a portfolio of real estate projects including residential towers (Masaken residential tower Al Mahboula), international projects in the United Kingdom (Kinnerton Street and Regent Gates London), and government housing programs (Ard Wa Qard Land and Loan, and Mink Al Ard campaign). The company also engages in real estate investment, asset management, and property management services, diversifying its portfolio within Kuwait and internationally.

Differentiator

Problem solved

Functional benefit

Products and services

• PAHW Housing Development Program Residential housing projects developed in partnership with Kuwait's Public Authority for Housing Welfare (PAHW), delivering housing units to Kuwaiti citizens under national housing programs.
• Kinnerton Street Project Real estate development project located on Kinnerton Street in London, United Kingdom, part of the company's international investment portfolio.
• Regent Gates London Real estate development project at Regent Gates in London, United Kingdom, part of the company's UK commercial/investment property portfolio.
• Commercial and Investment Properties (Kuwait) Development of commercial and investment-grade real estate assets in Kuwait for institutional and individual investors.
• Real Estate Asset Management Management of the company's developed real estate portfolio, including leasing, operations, and value optimization across residential and commercial assets in Kuwait and the UK.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Public Authority for Housing Welfare (Kuwait)coreStrategic or Co-development PartnerStrategic partnership with the Public Authority for Housing Welfare for developing residential plots under government housing programs including the 'Ard wa Qard' project and the 'Mink al-Ard wa Alaina al-Binyan' campaign targeting citizens benefiting from housing welfare.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Aldar Properties PJSC: Abu Dhabi-listed major regional real estate developer with diversified residential and commercial assets. Comparable as a Gulf-listed incumbent with a developer-investor model, though larger and more diversified than Al Masaken.
• Dar Al Arkan Real Estate Development Company: Saudi-listed real estate developer of large-scale residential and mixed-use projects. Comparable as a GCC-listed incumbent focused on residential plot and housing development, relevant to Al Masaken's PAAH-style housing welfare business.
• Emaar Properties PJSC: UAE-based regional real estate giant (DFM: EMAAR) operating large-scale residential and commercial developments across the Middle East. Comparable as a regional incumbent in MENA real estate development, though at materially larger scale and broader geographic reach than Al Masaken.

Direct peers

• Kuwait Real Estate Company K.S.C. One of the oldest Kuwaiti-listed real estate companies with a portfolio spanning residential, commercial, and investment property. Comparable as a long-standing Kuwaiti-listed developer with mixed asset exposure.
• Mabanee Company K.P.S.C. One of Kuwait's largest listed real estate developers, focused on large-scale commercial and residential developments (e.g., The Avenues). Highly comparable business model as a Kuwaiti K.P.S.C. real estate developer with mixed-use and residential projects.
• United Real Estate Company K.S.C. (UREC): Kuwaiti-listed real estate company engaged in property development, investment, and management across the MENA region. Comparable to Al Masaken's developer-investor-asset manager business model.
• Injaz Real Estate Development Company K.P.S.C. Kuwaiti-listed real estate developer focused on residential and commercial projects. Directly comparable as a smaller Kuwaiti-listed developer competing for similar local development opportunities.
• National Real Estate Company K.P.S.C. (NREC): Kuwaiti public shareholding real estate developer with operations spanning residential, commercial, and investment property development. Directly comparable to Al Masaken as a Kuwaiti-listed developer targeting similar government-backed housing and mixed-use segments.
• Salhia Real Estate Company K.P.S.C. Kuwaiti listed real estate developer and investor managing commercial and residential assets. Comparable as a Kuwaiti K.P.S.C. with a similar mix of development, investment, and asset management activities.
• Tamdeen Real Estate Company K.P.S.C. Kuwaiti listed real estate developer engaged in residential and commercial development and investment. Direct comparable as a Kuwaiti K.P.S.C. developer with project-based revenues and a mixed portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/masakenint

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Al Masaken International Real Estate Development