The Board Directors of Kuwait Real Estate Investment Consortium have the pleaser to present the 35th annual report, including the most important economic developments of the global and local level as well as the results of the annual performance, the consolidated financial statements and the independent auditor's report for the financial year ended 31 December 2011.

 During 2011 the general situation has been witnessed many of the significant events which had been reflected negatively on the global economic situation, the aggravation about sovereign debt crisis in America and Europe in addition to the cataclysmic in Japan and its impact of the mobility of global trade, as well as the instability political and the unstable situations in many Arab countries which had affected the global market many of losses.

 At the local level, the political conflicts has negatively affected the local market, although of the devoting of governmental efforts to accomplish the rules of the financial market that encouraged the investors which led to the low level profitability for most economic activities sectors to Kuwait Stock Exchange. Accordingly the price index is 16.4% to reach 5814.2 point (6955.5 point 2010) In addition to that the market has lost 17.2% of its capitalism value to become KD 28.5 Billion (KD 34.4 Billion – 2010).

While the real estate market has seen a remarkable activity, where the high value of the local market trading {contracts and agencies} to reach KD 2.896.2 Million, 54% of them are activity concentrated on the private housing sector, (KD 2.230.4 Million– 2010) as well as the raising number of transactions to reach 8,215 deal {7,370 deal -2010}.