| Company purpose |
- Owning, buying, and selling real estate and land, as well as developing them for the company's account both within and outside the State of Kuwait, as well as managing the properties of others, all in accordance with the provisions outlined in the prevailing laws, including prohibitions against trading in private housing vouchers as stipulated by these laws.
- Owning, buying, and selling shares and bonds of real estate companies exclusively for the company's account in Kuwait and abroad.
- Preparing studies and providing consultancy in all types of real estate fields, provided that the necessary conditions for those offering this service are met.
- Conducting maintenance work related to buildings and properties owned by the company and others, including maintenance work and executing civil, mechanical, electrical, elevator, and air conditioning works to ensure the preservation and safety of the buildings.
- Managing, operating, investing in, leasing, and renting hotels, clubs, cabins, guesthouses, rest areas, parks, gardens, exhibitions, restaurants, cafeterias, residential complexes, tourist and health resorts, recreational and sports projects, and shops, including all original and auxiliary services and related facilities, and other necessary services.
- Organizing real estate exhibitions for the company's projects according to the regulations in effect at the ministry.
- Holding real estate auctions according to the regulations in effect at the ministry.
- Owning and managing commercial markets and residential complexes.
- Utilizing the financial surpluses available to the company by investing them in real estate and financial portfolios managed by specialized companies and entities.
- Directly contributing to establishing the infrastructure for residential, commercial, and industrial areas and projects through the Build-Operate-Transfer (BOT) system, and managing real estate facilities under the BOT system, allowing the company to carry out these activities in Kuwait and abroad directly or through agency.
The company may have an interest in or participate with entities engaged in similar activities or that may assist it in achieving its objectives in Kuwait or abroad, and it may open branches both within and outside Kuwait in accordance with commercial companies law. The company is committed to conducting its activities in accordance with the teachings and principles of Islamic Sharia and may not, under any circumstances, interpret any of its objectives as permitting it to engage directly in usurious dealings, either in the form of interest or any other form. |
| Company profile |
Al-Hayrat Real Estate Company was established under the name Estehwaz Real Estate Company (formerly) as a closed Kuwaiti shareholding company in accordance with the provisions of the Commercial Companies Law on January 27, 2007, with a capital of WD 5 million, distributed over 50 million shares, with a nominal value of 100 fils per share. The company was registered in the commercial register under number 328254.
Company Capital
The authorized, issued, and paid-up capital of Al Hayrat Real Estate is KWD 5,000,000 (five million Kuwaiti dinars), distributed over 500,000,000 shares with a nominal value of 100 fils per share, all of which are cash shares. |