Ghazal United Real Estate Services Company, which was previously known as Global Logistics and Warehousing, originated as a specified liability company under a memorandum of association. This document was officially recorded with the Real Estate Registration and Documentation at the Ministry of Justice, designated with the number 2365 / Volume 1 on April 17, 2004, along with its subsequent revisions. The most recent amendment was recorded in the commercial register on September 26, 2022, which noted a reduction in the company's capital.
The company operates legally pursuant to license No. M.M./891/2004, granted by the Ministry of Commerce and Industry in the State of Kuwait on May 13, 2004. During an extraordinary general assembly held on Thursday, January 25, 2024, amendments were approved to Article No. (2) of the Memorandum of Association and Article No. (1) of the Articles of Association, resulting in a change of the company's name to Ghazal United Real Estate Services Company.
Capital Structure of the Company
As of the financial statement for the period ending June 30, 2022, Ghazal United Real Estate Services reported an authorized, issued, and paid-up capital of KD 4,200,000, a reduction from KD 15,500,000 in 2021. This capital is allocated across 42,000,000 shares at a nominal value of 100 fils per share, with all shares fully paid in cash.
Furthermore, as indicated in the financial statement for the year closing on December 31, 2022, the company's current authorized and paid-up capital stands at KD 1,092,000, down from KD 15,500,000 in 2021. This amount is divided into 10,920,000 shares, each with a nominal value of 100 fils, and all shares are fully subscribed and paid in cash.
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