Chairman Statement

Dear Shareholders

Peace, mercy and blessings of God ,,,

We present to you the general budget of your company “Real Estate Trade Centers Company (K.S.C.P)” as well as the financial results for the year ending on December 31, 2022

Financial indicators:

We summarize for you some financial indicators of the company’s the general budget, which reflect the results of its operations during the year 2022

The total assets value for the year 2022 amounted to 29,495,366 Kuwaiti dinars, with a decrease of 90,3971 Kuwaiti dinars compared to the year 2021, at a rate of approximately 3.06%. The value of investment properties amounted to 18,208,375 Kuwaiti dinars.

Real estate under development amounted to 11,217,220 Kuwaiti dinars, and the total property rights in 2022 amounted to 25,016,679 Kuwaiti dinars, compared to 24,611,393 Kuwaiti dinars in 2021, with a financial increase of 405,286 Kuwaiti dinars, with an increase rate of 1.65% in equity, while the total expenses amounted to 256,750 Kuwaiti dinars. The revenues achieved for the year 2022 amounted to 662,036 Kuwaiti dinars, or approximately (4.41%) of the company’s capital, amounting to 15,000,000 Kuwaiti dinars, or approximately 4.41 fils per share.

The book value of the share amounted to 180 fils, and there are more details available in the company’s audited financial statements.

The company’s current and future projects:

The final finishing stages of the Marakez Resort – Equestrian Academy project in North Sabhan are being completed on an area of 12,000 square meters for all buildings and constructions, in addition to all facilities, green spaces and parking lots surrounding the project, with a total area of approximately 30,000 square meters.

- The company  is  currently  preparing  the necessary  designs for the construction of  the new  Al-Kut city project, and as soon as the situation in the Syrian Arab Republic is better stabilized in the coming days, an integrated urban urban plan will be implemented for this residential city, which includes no less than 153 buildings consisting of eight floors, each with 4 luxury apartments, so that The total number of apartments in this city is about 4,896 apartments, with an average area of 165 square meters per apartment. In order to then obtain the necessary financing to start the implementation stages, as the project is a model integrated city that will be built on an area of 620,000 square meters in the Saasa area (Damascus countryside) on the Peace Road, which will include commercial, investment and residential buildings, hotels, hospitals, and all services and recreational and sports facilities. needed by the population.

corporate governance:

With regard to the Capital Markets Authority Law No. (7) of 2010 and its executive regulations and the decisions it contained regarding corporate governance , the company contracted with  a consultant and became a consultant on governance laws and developed and took some notes of the annual report on the evaluation and review of internal control systems ICR And that the company has prepared and developed its own policies in order to keep pace with the Authority’s regulations and future amendments, while emphasizing the company’s commitment and its fulfillment of all the conditions and requirements of the Capital Markets Authority with regard to corporate governance. We attach to you the annual report of the Internal Audit Committee and the report on corporate governance for the year 2022

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

Thank you for your presence and support,,,

God grants success ,,,

Eng. Talal Abdul Hameed Dashti