Chairman Statement

Dear Shareholders

Peace, mercy and blessings of God ,,,

We put in your hands the balance sheet of your company “Real Estate Trade Centers” (K.S.C.) “as well as the financial results for the year ended December 31, 2020

Financial indicators:

We summarize some of the financial indicators of the company’s balance sheet that reflect The result of the ban during the year 2020

The total assets in the year 2020 amounted to a financial amount of 30,305,763 KD (thirty million three hundred and five thousand seven hundred and three Sixty Kuwaiti dinars) with increment  than  the year 2019 amounted to 305,532 Kuwaiti dinars (three hundred and five thousand five hundred and thirty-two Kuwaiti dinars). with increment 1.02% and investment property amounted to 12,716,415 Kuwaiti dinars. The properties’ value  which are developed now amounted to 11,213,622 Kuwaiti dinars. Total equity in 2020 23,580,352 dinars Kuwaiti compared to 2019, is 23,304,295 Kuwaiti dinars, with a financial increase . An amount of 276,057 Kuwaiti dinars, an increase in equity, 1.18% While the costs of expenses amounted to 101,754 Kuwaiti dinars, revenues .The realizations for the year 2020 amounted to 135,511 Kuwaiti dinars, at a rate of approximately (1%) from The company’s capital is 14,000,000 Kuwaiti dinars, up to approximately 1 fills per share.The book value amounted to 183 fils More details are available in the audited financial statements of the company to be viewed.

The company’s current projects:

Electricity connection licenses are in progress to complete the stages Final work of Markaz Center project – Equestrian Academy the development required in preparation for the opening in the North Sabhan area on an area 30000 m2 including all buildings, facilities, green spaces and cars  parking.

The company’s future projects

- Inside the State of Kuwait: After God granted us and agreed to complete a share sale transaction the company in Intrados Tourism Development Company and make a profit from that deal, the Board of Directors decided to invest part of the profitable sale in several income-generating real estate investment activities by starting to buy various real estate in order to view the future of the company’s resources optimal use and the welfare of the shareholders.

- Outside the State of Kuwait: The company started by starting the construction of a city project New Kut immediately after the stability of the situation in the Syrian Arab Republic and after obtaining financing for it, including the residential houses which will be built on an area of ​​620,000 m2 as a model integrated city in Sa’sa’ area (Rural – Damascus) on Salam Road, from the buildings commercial, investment, residential, hotels, hospitals and all services and recreational and sports facilities that the residents need, and a plan will be implemented civilized urban . a building consisting of various violations, including 4 luxury apartments,  the number of apartments, where the average area of ​​one will be about 165 m2.

Corporate Governance:

With regard to Capital Markets Authority Law No. (7) of 2010 and its regulations and the decisions it contains regarding corporate governance, we affirm our commitment and our fulfillment of all the conditions and requirements of the Capital Markets Authority regarding corporate governance from the annual progress of the Companies Committee Government companies for the year 2020 , We attach to you the annual report of the Internal Audit Committee and the report on corporate governance for the year 2020

In conclusion, we thank God Almighty, the members of the Board of Directors all that they provided to the company. We also wish to thank the executive management and all the employees of the company and the honorable shareholders, and the competent official authorities.

Thank you for your presence and support,,,

God grants success ,,,

Eng. Talal Abdul Hameed Dashti
Chairman