Chairman of the Board of Real Estate Trade Centers Company, Engineer Talal Abdulhameed Dashti, announced that on May 25, 2025, major shareholders of “Markaz” (namely,  Dashti Sons for General Trading & Contracting Company) have irrevocably and unconditionally waived the entire balance of their debt owed to our company, amounting to 2,150,000 KWD (Two Million One Hundred Fifty Thousand Kuwaiti Dinars only), without any restrictions, conditions, or financial compensation, and without imposing any current or future obligations on Real Estate Trade Centers Company.

This waiver comes as direct support for the company’s financial position and an enhancement of its market value.

Eng. Talal Dashti added in his remarks that this waiver represents direct support from the waiving party and constitutes a significant financial event with a direct positive impact on the company’s financial standing.

This waiver will result in a substantial reduction in accounts payable liabilities and a direct increase in the company’s retained profits, thereby strengthening its financial stability and improving current financial performance indicators. The company currently has no outstanding debts or financial obligations to any financing or banking entities and is free from any related-party obligations.

This reflects the commitment of major shareholders to a long-term strategic vision within a well-defined plan aimed at boosting the company’s investment appeal and enhancing its performance metrics.

Eng. Talal Dashti further stated that this initiative is an exceptional and rare step, part of a series of measures the company is taking to deliver added value to shareholders and reinforce investor confidence, aligning with its vision to become a leading real estate company in the region.

This move represents fundamental support for the company’s standing, benefits shareholders, and strengthens their trust in the major owners—a crucial step toward achieving the company’s expansion goals locally and regionally.

This also coincides with the lifting of U.S. and European sanctions on the Syrian Arab Republic, which will have a direct positive impact on the company’s future prospects, as it looks forward to activating its real estate activities there in the coming period.

We reiterate the company’s commitment to the highest standards of transparency and governance, ensuring benefits for the company, its current and future projects, and its esteemed shareholders alike.