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1974 |
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Establishment of Salhia Real Estate Company with a capital of KD 5.5 million, of which KD 3.575 was called.
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1975 |
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Construction begins in Salhia Complex project
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1976 |
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- Building permit from Municipal Council granted for construction of a 5 Star Hotel.
- Signed a 25 year agreement with Le Meridien Hotels to operate the hotel.
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1977 |
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- Complete the second final capital call of KD 1.925 million to the company. Therefore, the capital of KD 5.5 million is fully paid.
- Obtain a building permit for Le Meridien Hotel Kuwait on 22/6/1977 and construction began on 1/7/1977
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1978 |
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Increase the company's capital from KD 5.5 million to be KD 8 million at KD 0.100 per share.
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1979 |
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Grand opening of Salhia Complex in the third quarter of 1979
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1980 |
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- Obtained a formal approval from the Ministry of Trade and Industry for listing Salhia Real Estate Company in the Kuwait Stock Exchange, converting it from a private to a publicly listed company on 10/2/1980.
- Grand Opening for Le Meridien Hotel Kuwait on 15/6/1980
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1981 |
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Salhia Real Estate Company appoints Mr. Fawzi Yousef Al-Nafisi as General Manager of the company, and Mr. Jawad Mohammed Barakat as a Deputy General Manager of the company.
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1982 |
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The company's capital paid hit KD 19,200,000 million, with an increase of 60% than the previous year
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1983 |
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- The Le Meridien Hotel Kuwait signed the Hotel Union Owners standardize prices agreement on 1/10/1983.
- Agreeing a contract loan of KD 8 million for a period of seven years with the National Bank of Kuwait.
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1984 |
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After 5 years of leasing Salhia Complex, Salhia Real Estate Company renewed the contracts for the tenants with an increase between 20% - 60% in rent.
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1985 |
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Refurbishment of Salhia Complex and Le Meridien Hotel Kuwait.
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1986 |
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The par value of the share price has been reduced from 1 KD to 100 fils, in compliance with Trading Companies Law, Article No. 99 of the declaration No. 132 of in year 1986, therefore, number of company capital shares increased to 192,000,000.
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1987 |
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An independent valuer values both Salhia Complex land and Le Meridien Hotel Kuwait land for KD 59,211,988 million
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1988 |
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Le Meridien Hotel Kuwait signs the Hotel Union Owners updated price agreement for 5 Stars Hotels on 1/6/1988
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1989 |
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The Municipal Council Committee approves on land separation of Salhia Complex from Le Meridien Hotel Kuwait.
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1991 |
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Commencement of operations of Salhia Complex immediately after liberation 100% occupancy over a short period of time and complete emergency repairs for the Le Meridien Hotel Kuwait and commence operations.
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1992 |
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- Le Meridien Hotel Kuwait opens the Thuraya Hall in the 16th floor
- The Municipality approves Al-Sahab Tower development.
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1993 |
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- Establish Haddia Holding Company in Germany.
- Completion of the formal procedures to own 62% of retirement and disabled housing in Germany for Haddia Holding Company.
- Receipt of the construction permit from the Municipality for Al-Sahab Tower project and delivery of design schemes and sketches.
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1994 |
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- Commencement of Al-Sahab Tower project.
- Salhia Real Estate Company increases the ownership percentage from 62% to 93% in Haddia Holding Company - Germany.
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1995 |
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- Completion of Al-Sahab Tower projects' internal finishes in May 1995.
- Salhia Real Estate Company has achieved good profits from investing the financial surplus available in new investment channels including SAREC - Germany.
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1996 |
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- Completion of Al-Sahab Tower project as and becomes Salhia Real Estate Companys' new headquarters.
- Changing Salhia Real Estate Company logo, which defines the identity of the company.
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1997 |
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- Grand opening of Al-Sahab Tower.
- Establishment of Key Property Investments , a 50/50 joint venture with St. Modwen Properties to become a gateway to Salhia Real Estate Company's investments in the UK real estate market with a capital of 25 million Pounds Sterling on 16/5/1997.
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1998 |
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- Salhia Real Estate Company purchases 5 lands in Sharq area, and 8 buildings in Fahed Al-Salem Street area.
- Salhia Real Estate Companys' Board gives approval to Haddia Holding Company to purchase 2 nursing homes in Germany.
- Salhia Real Estate Company has signed a contract to participate in Thorn Hill residential development in North Carolina, United States.
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1999 |
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Approval of Arraya schemes draft.
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2000 |
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Salhia Real Estate Company obtains official approval from all parties to commence development of the Arraya Tower project.
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2001 |
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- Relocating Salhia Real Estate Company headquarters to Salhia Complex.
- Implementation of Salhia Plaza project and car parks to serve the Salhia Complex visitors and tenants.
- Al-Asima project in planning stages.
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2002 |
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- Implementation of Arraya Tower and finishes procedures.
- Salhia Real Estate Company assign the hotel operation to J. W. Marriott Hotel, Le Meridien Hotel Kuwait previously.
- The Board of Directors of Salhia Real Estate Company and St. Modwens decide to increase Key Properties Investments' capital from KD 12.1 million to KD 24.2 million.
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2003 |
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- Grand opening of Arraya Tower project
- Grand opening of Marriott Courtyard Hotel in Kuwait
- Establishment of Drawbridge Securities a UK joint venture, specializing in land option investments.
- Completion and opening car parking that serves Salhia Complex during the third quarter of 2003.
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2004 |
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- Completing installation of all computer services in Arraya Tower, Marriott Courtyard and Conference Hall.
- Opening of (Plon) nursing home in Germany managed by DANA GmbH, a subsidiary of Haddia Holding Company in July 2004.
- Obtain establishment license for three cafes in the plaza area of Arraya Complex.
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2005 |
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- Completing Arraya Plaza which includes cafes, and organize family festivals and exhibitions.
- Signing of the final agreement with the National Bank of Kuwait on 14/6/2005 to serve as underwriter of the Al-Asima Project.
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2006 |
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- Establishment of Al-Asima Real Estate Company with a capital of KD 80 million, through a 50/50 joint venture between Salhia Real Estate Company and The National Bank of Kuwait and its clients.
- Salhia Real Estate Company sells Al-Asima land to Al-Asima Real Estate Company for KD 115 million.
- Receive plannind consent for Al-Asima Project in July 2006.
- The Board of Directors of Salhia Real Estate Company agree to merge Haddia Holding Company with its affiliates DANA and SAREC.
- Commenced construction of Arraya Tower II.
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2007 |
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- Grand opening of Salhia Plaza
- Sale of 8 parcels of land in Fahed Al-Salem Street area for KD 36,550 million.
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2008 |
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- Salhia Real Estate Company continued finalizing the preliminary works in the Bahrain Bay project.
- Salhia International Investments, Ingleby concluded acquisition for the majority of a two-acre site in Digbeth district of Birmingham.
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2009 |
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- Arraya Tower II commenced actual operations letting 82% of the tower to a range of local and international companies.
- Salhia International Investment, Ingleby was granted a unanimous planning consent for The Beorma Quarter Project, located in Birmingham, UK.
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2010 |
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- Salhia acquires circa 50% stake of Al-Asima Real Estate Company, which owns Al-Asima Project.
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