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Commentary on the press release about Kuwait Real Estate Company Establishing an office tower.

Kuwait Real Estate Company responded to the e-mail received from Kuwait Stock Exchange on 17/05/2017 requesting comment on the news published in Al-Qabas newspaper this morning , Wednesday, 17/05/2017, regarding the company's intention to establish an offices tower in Al-Reggai area. The company clarified that it owns this land since the 1980s and it’s the same land on which the Court Complex is currently located. Since the construction rules have been amended from 180% to 330% several years ago, one of the options available to the Company is to construct a building on the rest of the unplanned area (Al-Reggai Court Complex). However, the company has not yet obtained any licenses in this regard from the competent authorities, as this is still in the process of study, and if the company adopted this option and obtained the necessary licenses from the competent authorities to establish such a building, For its part, to disclose this matter at the time, in accordance with the rules in force in this regard.