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  Mr. Khalid Yousuf Al Marzouq’s Achievements  

 

 

 

 

 
Mr. Khalid Yousuf Al Marzouq’s Achievements

 
 

MR. KHALID YOUSUF AL-MARZOUQ

  • He has always had an interest in architecture and he was the first to build multi-storey car parks in Kuwait.

  • He also founded the first real estate company in Kuwait (Kuwait Real Estate Co.) and was its chairman from 1972 to October 1992

  • He was the first to build a modern housing Complex on a large area in Ras Al-Salmiah known as “La’ala (Pearl) Al-Marzouq” Complex

  • He built the mosque and the Islamic Medical Center which is an architectural masterpiece and a unique monument for herbal and Islamic treatment.

  • He established the Kuwait Real Estate Bank in 1973 and was its chairman from April 30, 1995 to May 31, 1998.

  • He co-established the Commercial Bank of Kuwait in 1960 and was vice-president of the bank which is the second oldest Kuwaiti bank.

  • He headed the supervisory and executive committee for designing and building the Banking Complex. 

  • He established Al-Anbaa newspaper in 1976. It is a daily political newspaper with Mr. Yousuf Khalid Al-Marzouq as its current editor-in-chief. 

  • He set up several real estate, investment and general trading and contracting companies with great achievements such as: Kuwait Projects for Construction and Real Estate Company which specializes in executing medium- size real estate projects.

  • Loloa (Pearl) Investment Co.

  • Loloa (Pearl) Real Estate Co.

  • Kuwait Financial Group Co. which specializes in portfolio management in foreign stock markets and in the Kuwait Stock Exchange.

  • Nouf Real Estate Co. for General Trading & Contracting which manages and supervises several real estate projects .

  • Khalid Yousuf Al-Marzouq & Co. which is the financial arm of Nouf Real Estate Co. for General Trading & Contracting.

  • Souk Al-Salmiah Real Estate Co. was established in 12/11/2000. It built one of the largest covered markets in Kuwait ( Souk Al-Salmiah Complex) which combines several economic and business activities under one roof . Mr. Marzouq Yousuf Al-Marzouq is the chairman of the company.

 
Kuwait Real Estate Bank

He established the Kuwait Real Estate Bank and developed it over 25 years. In an honoring ceremony attended by a large crowd of the banking community he was praised for his efforts in establishing the bank as a member of the constitutional committee who contributed to the growth of the bank over a period of 25 years. Speakers lauded his judicious and humanitarian decisions such as the decision to give the gulf employees of the bank an equal pay to that of their Kuwaiti peers, as well as his role in publishing the “World of Real Estate and Investment “ magazine which was the first specialized Kuwaiti magazine in this domain .

Touristic Enterprises Company

In 1974 he established the Touristic and Recreational Enterprises Co. and was its president. The company participated in several recreational and tourist projects that provided outlets for the citizens and residents and job opportunities to Kuwaiti youths.
He was the first to suggest the idea of constructing in Kuwait a version of the American Disney Land. The Entertainment City was built is Al-Doha area as a smaller version of Disney Land but with an Arab Kuwaiti identity.

Kuwait Real Estate Co.

Established on 16/5/1972 with the main objective of dealing with real estates including buying, selling, leasing and rental of land and real estate, construction and investment in stocks. This company carried out many projects such as Souk Al-Kuwait, Al-Souk Al-Kabeer, Al-Durar Complexs (B, C, D), Al-Durar Complexs (A), Loloa (Pearl) Al-Roqui, Loloa (Pearl)Al-Marzouq, La’ala Al-Fintas, Loloa (Pearl)Ibn Khaldoun, Loloa (Pearl)Al-Masila .
The company made large contributions to philanthropic causes such as his decision that the company makes a generous annual donation to the charities in Kuwait.
It was the first Kuwaiti company to make a considerable contribution to the war effort. He and the company were honored for their generosity by the late Amir Sheikh Saad Al-Abdullah Al-Sabah .

His Role During the Iraqi Invasion of Kuwait


He was the only civilian member of Al-Ta’ef Government headed by the late Amir Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah which was formed in Saudi Arabia during the Iraqi occupation. That government maintained a legitimacy which enabled it to carry out its constitutional authority and mandate and launch an extensive political activity including making intensive consultations with heads of fellow-Arab and friendly states so that the Kuwaiti cause would remain a focus of international interest . In that way the government succeeded in undermining the Iraqi plans to destroy the political identity of Kuwait.
During the Iraqi occupation he gave instructions for Al-Anbaa newspaper to be published in Cairo and to be distributed free of charge to express the free voice of the Kuwaiti people and to show the entire world the vile crimes committed by the agents of the defunct Iraqi regime led by Saddam Hussein .
The glass factory in Egypt, one of Khalid Al-Marzouq’s projects, sponsored many Kuwait families in Cairo during the invasion.


Sabah Al-Ahmad Sea City


On 24/12/1991 he set up La’ala Al-Kuwait Real Estate Co. whose current chairman is Mr. Fawaz Khalid Al-Marzouq. The company took upon itself the task of constructing Al-Khairan Pearl Residential City Project which is called Sabah Al-Ahmad Sea City and is the first sea city to be built in Kuwait by the private sector at no cost to the State. It is a residential city with complete services and utilities built on marsh land not suitable for building. La’ala Al-Kuwait Real Estate Co. undertook the cost and burden of reforming the land and developing it into a model city.
The idea of the project was suggested by Mr. Khalid Yousuf Al-Marzouq in 1986 out of his belief in the necessity of the private sector’s participation in driving the real estate and housing development. On December 17th 2009 H.H. the Amir Sheikh Sabah Al-Ahmad inaugurated Sabah Al-Ahmad Sea City, thus realizing the dream of Khalid Yousuf Al-Marzouq, on the land of Kuwait (see La’ala Al-Kuwait Real Estate Co. and Sabah Al-Ahmed Sea City).

His Foreign Investments:

He was involved in trade at the age of 14 and traveled to India and Pakistan on business. He invested in many countries such as Hong Kong, Singapore and in America and Europe and various other countries. He proposed the idea of building an integrated tourist city in Egypt with residential areas, three 5-star hotels, a golf club, a marina and shopping and entertainment centers.
He set up the Nouf Investment Company in Egypt and established the first glass plant in Egypt in the city of the 6th of October.

The Islamic Medical Center

On 21/2/1987 H.H. the late Amir Sheikh Jaber Al-Ahmad inaugurated the Yousuf Al-Marzouq and Loloa (Pearl) Al-Nassar Center for Islamic Medicine which occupied an area of 15500 sq.m. In attendance were the notables of the State led by H.H. the late Amir Sheikh Saad Al-Abdullah and H.H. the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah . The Center was built with a generous donation from Khalid Yousuf Al-Marzouq & his brothers.
Construction work at the Center took four years. It is characterized by its exquisite Islamic architecture and is comprised of two sections, one for the Islamic Medical Center and the Islamic Medical Sciences and Herbal Treatment Organization , and the second for the Yousuf Al-Marzouq and La’ala (Pearl) Al-Nassar Mosque with a praying area of 1267 sq.m. which can accommodate 1500 worshippers, with an upper floor for women . The mosque is indeed an embodiment of the wonderful Islamic architecture.
The Center features a large library, halls for wards and a conference hall. The Ministry of Health uses the Center for providing the patients with medical care and medications made completely from medicinal herbs in the Center’s own laboratories.
H.H. the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah honored Mr. Khalid Yousuf Al-Marzooq on 12 October 2004 for his generous donations and contributions in various fields especially health. According to the Ministry of Health, his donation to build the Islamic Medical Center was the largest in Kuwait’s history.

 

 
   
 
 
     
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