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The Screen · Real Estate · Real Estate - Development
National Real Estate Company - K.P.S.C.
NRE.KW · KUW · USD · Market cap $282M
National Real Estate Company - K.P.S.C., together with its subsidiaries, provides real estate and investment services in the Middle East and North Africa.
FAIL · Does not pass the screen
132.00 USD
Screen close, 2026-09-20 · not a live quote Last reviewed 15 days ago
Screened 2026-09-20 · the tape above runs as of 07:26 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 132.00 against the desk's fair-value range, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price132.00 USD
Our investment reviews on this name
2026-09-08Read Distribution136.00-2.9% to today ✓
2026-07-02Read Markup113.00+16.8% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
National Real Estate Company - K.P.S.C. holds its Distribution at $132.00. Consolidating, no directional conviction, held for 18 days.
As held on the ledger · 2026-09-20
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 18 days
Price at the screen
$132.00
Valuation
N/A trailing · N/A forward price to earnings
Values screen
FAIL
Beta
0.65
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
28.44%
Below 33%
Interest-bearing debt is just 28.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.83%
Below 33%
Cash held in interest-bearing accounts and securities is 0.8% of assets, under the one-third limit.
Pass
Receivables
5.18%
Below 49%
Money owed to the company is 5.2% of assets, under the 49% limit.
Pass
Revenue purity
19.10%
Below 5%
19.1% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
National Real Estate Company - K.P.S.C. clears the business-activity screen, and its debt is inside the line. Where it falls short is income purity: around 19% of its income right now is non-operating interest income, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Kuwait and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
NRE.KW trades on KUW (the company is based in Kuwait). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Distribution$132.00-2.9%Entry 6
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 58%. Our forward projection puts the odds of a 10% gain over the next month near 22%.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 58%. Our forward projection puts the odds of a 10% gain over the next month near 22%.
2026-08-07Markup$136.00+20.4%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 20.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 58%. Our forward projection puts the odds of a 10% gain over the next month near 22%.
2026-07-18Markup$113.00+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 58%. Our forward projection puts the odds of a 10% gain over the next month near 22%.
2026-07-03Markup$113.00+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$113.00Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.