Orient Real Estate Investment Company
Symbol OREIC OTC Code 352 Type of Trade HYBRID
Date of last trade/ date of last hybrid deal:   14 November 2024
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Company Name Orient Real Estate Investment Company
Sector Real Estate
Sub-sector
Legal form Closed Kuwaiti Shareholding Company
Company establishment date 08 January 2006
Company purpose
Orient Real Estate Investment Company is actively involved in various real estate activities both within and outside the State of Kuwait, always ensuring compliance with the existing laws and regulations. The company's scope of operations includes:
  • Ownership, sale, and purchase of real estate properties and land, as well as their development, on behalf of the company, both domestically and internationally. The company also manages properties owned by third parties while adhering to legal provisions regarding the trading of private housing vouchers.
  • Ownership, sale, and purchase of shares and bonds issued by real estate companies, limited to transactions within Kuwait and abroad.
  • Provision of comprehensive real estate studies and consultations, subject to the fulfillment of necessary qualifications by service providers.
  • Execution of maintenance work for buildings and real estate owned by the company and others, encompassing civil, mechanical, electrical, elevator, and air conditioning works to safeguard the preservation and safety of the properties.
  • Organization of real estate exhibitions to showcase the company's projects, in accordance with the regulations set by the relevant authorities.
  • Utilization of the company's financial surpluses through investment in specialized financial portfolios managed by reputable entities.
  • Direct contribution to the development of infrastructure in residential, commercial, and industrial areas and projects by employing the build-operate-transfer (BOT) system and implementing real estate facilities management under the BOT system.
  • Ownership and management of hotels and tourist health clubs, including rental operations.
  • Management, operation, investment, rental, and leasing of hotels, clubs, motels, guest houses, rest houses, parks, gardens, exhibitions, cafeterias, and residential complexes at various levels. The company provides essential services, assistance, and attached facilities, along with other required amenities.
  • Conducting real estate auctions and ownership transactions in accordance with the applicable regulations prescribed by the relevant ministry.
  • Ownership and management of commercial markets and residential complexes.
Orient Real Estate Investment Company is authorized to undertake the aforementioned activities either directly or through proxies. Additionally, the company has the liberty to establish associations or partnerships and obtain interests in entities engaged in related business or those that can support its objectives, both domestically and internationally.
Company profile

Orient Real Estate Investment Company, previously known as Orient Group Real Estate Company, was established on January 8, 2006, under Memorandum No. 172/Volume 1, with subsequent amendments. The latest amendment was recorded in the Commercial Register on May 9, 2017, under No. 83012.

The previous capital of Orient Real Estate Investment amounted to KD 16,008,300. However, during an Extraordinary General Assembly held on April 9, 2017, the company's authorized, issued, and fully paid-up capital was increased to KD 16,808,715. This increase was achieved through the distribution of bonus shares to shareholders registered in the company's records as of the assembly date. The Board of Directors was granted the authority to dispose of any fractional shares. Consequently, Article 6 of the Memorandum of Association and Article No. 5 of the Articles of Association were amended to reflect this change. The revised capital is now distributed over 168,087,150 shares, each with a nominal value of 100 fils. All the shares have been paid for in cash.

As of the annual financial report for the year ended December 31, 2021, the current authorized, issued, and fully paid-up capital of Orient Real Estate Investment stands at KD 16,808,715. This capital is distributed over 168,087,150 shares, with a nominal value of 100 fils per share, all of which have been paid for in cash.

Shareholding records Kuwait Clearing Company (KCC)
Auditor
Date of joining the OTC Platform 18 November 2018
Type of deal HYBRID
Sharia'a compliant Yes
Source of Data Various credible sources
Last Updated On 24 September 2024
Location

Al-Sharq 5 Building 1 Dor Al-Asher Building Al-Borouj Real Estate Investment Complex

Tel

22493361- 22476586- 22493360- 22476587

Fax

22493362- 22476589

Email Address

Website

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If a company wishes to remove the available information from this website, the management of the company can do so through the provided link and by contacting Almowazi telephonically on the numbers provided on its website.

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