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International Resorts Company – KSC (Public) was incorporated on 10 February 1976 in accordance with the Commercial Companies Law under the name of Kuwait Projects Company for Reconstruction and Real Estate as a Kuwaiti Public Shareholding Company and is the group’s ultimate parent company (‘parent company’). The name of the company was officially amended on 7 February 1998 to International Resorts Company. The parent company’s shares are listed on Kuwait Stock Exchange.

• Acquiring, selling and purchasing real estate properties and lands and developing same in favour of the company inside and outside the State of Kuwait, in addition to managing others’ properties in such a way that does not violate the provisions stipulated in the existing laws and what has been prohibited by these laws such as trading in the private residence plots as stated in these laws.
• Acquiring, selling and purchasing shares and bonds of the real estate companies only in favour of the company inside and outside Kuwait.
• Preparing studies and providing consultations in all kinds of real estate fields, provided the required terms and conditions are met by those who offer this service.
• Acquisition and management and rental of hotels, health clubs and touristic facilities.
• Doing maintenance works related to the buildings and properties owned by the company and others, including maintenance works and carrying out civil, mechanical and electrical works, elevators and air conditioning works in such a way that maintains buildings and their safety.
• Managing, operating, investing, renting and sub-renting, hotels, clubs, motels, guest houses, rest areas, parks gardens, exhibitions, restaurants, cafeterias, and housing complexes whether for pleasures or sports and other shops at all levels.
• Organizing real estate exhibitions for the company’s real estate projects in accordance with the regulations applied in the Ministry.
• Organizing real estate tenders.
• Acquisition and management of commercial and residential complexes.
• Using the financial surpluses available with the company by investing same in financial portfolios managed by specialized companies and entities.
• Share-based payment for company staff.
• Establishing and management real estate funds (after getting the approval from Central Bank of Kuwait).
• Contributing directly to set out the basic structure of the residential, commercial and industrial areas and projects by “Building, Operation & Transfer” (BOT) system and managing the real estate utilities by BOT system.

The Company may practice the above activities inside the state of Kuwait and abroad either in its own name or by proxy.

The Company may have interests or participate in any suitable way with entities that engage in similar business activities or that may help the Company achieve its objectives inside Kuwait and abroad. The Company may also incorporate, purchase and/or participate in incorporation of such entities or affiliate them.