The general assembly of Acico international company for real estate development elected its board of directors in its first meeting. The board will be headed by Abd al-Aziz Ahmad al-Ayub, reported the Kuwaiti newspaper, Al-Rai al-A'm on April 6, 2005.
The company's goals is the accomplishment of real estate projects inside and outside Kuwait. The first one among these projects is the construction of a 5 stars hotel, composed of 52 floors, in Sheikh Zayd Street in Dubai. Another project is Port Said City in the United Arab Emirate, which includes construction of offices building near Dubai Medical City project.
It should be mentioned that the number of shareholders in Acico is 154 investors; the most prominent among them are "Al-Harsana", "Al-Bayan", and "Kamco", by total capital of approximately KD25 million ($85.6 million).
