| Company purpose |
- Owning, selling, buying, and developing real estate and land, both within and outside Kuwait, while complying with existing laws and regulations.
- Owning, selling, and buying shares and bonds of real estate companies.
- Providing real estate studies and consultations, subject to meeting the necessary qualifications for the provision of such services.
- Owning and managing hotels, health clubs, and tourist facilities, as well as leasing and renting them.
- Conducting maintenance work for buildings and real estate owned by the company and others, including civil, mechanical, electrical, elevator, and air conditioning works to ensure safety and preservation.
- Managing, operating, investing, leasing, and renting hotels, clubs, motels, guest houses, parks, gardens, exhibitions, restaurants, cafeterias, residential complexes, tourist and health resorts, recreational and sports projects, as well as shops and related facilities and services.
- Organizing real estate exhibitions for the company's projects in compliance with applicable regulations.
- Conducting real estate auctions in accordance with relevant regulations.
- Owning and managing commercial markets and residential complexes.
- Investing financial surpluses in managed financial portfolios through specialized companies and entities.
- Contributing to the development of infrastructure in residential, commercial, and industrial areas, using the build, operate, and transfer (BOT) system, as well as real estate facilities management.
- All activities of the company adhere to the principles of Islamic law, as approved by the Shariah Supervisory Board and Fatwa of the Group. |
| Company profile |
Founded in 2002 as a limited liability company, Abyaar Real Estate Development Company underwent a transformation in 2005 to become a closed joint stock company, with a capital of KD 35 million. This change occurred through a strategic partnership between Aayan Leasing and Investment Company of Kuwait and Al-Rashdan Group. The company boasts a distinguished shareholder list, including renowned entities in the real estate and investment sectors such as Muthanna Investment Company and Wafra International Investment Company. Abyaar is strongly committed to advancing the real estate sector across the region.
Abyaar specializes in the development of residential, commercial, and hotel projects. With the assistance of esteemed architects, as well as exterior and interior design experts, the company creates exceptional high-end properties. In 2007, Abyaar Real Estate Development Company was listed on the Kuwait Stock Exchange. The company's capital increased from KD 48 million to KD 53 million in 2008, and further to KD 106 million in 2009.
However, on April 19, 2021, Boursa Kuwait delisted the shares of Abyaar Real Estate Development Company based on a decision by the Board of Commissioners of the Capital Markets Authority. Consequently, the company withdrew from Boursa Kuwait.
Company capital:
According to the financial report for the fiscal year ending on December 31, 2020, the capital of Abyaar Real Estate Development Company amounted to KD 110,727,500 (similiar to that of 2019). This capital is distributed over 1,107,275,000 shares, each with a value of 100 fils and fully paid. |