The Commercial Real Estate
Executive Summary
Al-Tijaria (The Commercial Real Estate Company) demonstrates a progressively maturing ESG profile anchored by strong governance compliance, robust occupational safety, and a growing green investment portfolio, with the fifth annual sustainability report aligned to GRI 2021, Boursa Kuwait ESG guidelines, UNGC principles, and CMA regulations. Environmental performance is characterised by measurable progress — a 9.5% electricity reduction, a 15% water reduction, and five-year multi-scope GHG disclosure — but is constrained by the absence of formal quantified reduction targets, TCFD/scenario analysis, and renewable energy integration. Social performance is a relative strength, with ISO 45001-certified zero-incident safety, a strategic Board-governed CSR framework, solid workforce diversity data, and growing training investment, though female board representation remains absent and D&I targets are not quantified. Governance is the most mature pillar, evidenced by ISO 37000:2021 certification, comprehensive regulatory compliance with zero violations, a functioning ethics and whistleblowing framework with 100% workforce certification, and a growing green investment portfolio of KWD 32.7 million; board structural gaps — particularly low independence and no female directors — represent the most material governance improvement area. Overall, Al-Tijaria is a mid-to-upper performer in the Kuwaiti real estate sector with a credible ESG trajectory but significant headroom in climate strategy, investment-grade sustainable finance, and board diversity.
Year-over-Year Analysis
vs 2024Al-Tijaria demonstrates a broadly positive ESG trajectory from 2024 to 2025, with meaningful improvements across all three pillars driven by the maturation of governance structures, stronger environmental data disclosure, and a more strategic and better-funded community investment programme. The Environmental pillar shows measurable operational improvements — a 9.5% electricity reduction and a 15% water reduction — alongside expanded GHG disclosure, but the continued absence of formal quantified targets and TCFD reporting represents a structural ceiling on E scores. The Social pillar remains the company's relative strength, reinforced by ISO 45001 certification, zero safety incidents, growing training investment, and a Board-governed CSR programme that nearly doubled in spend versus 2024; however, the persistent gap in female board representation and D&I targets limits S3 potential. The Governance pillar benefits from the introduction of ISO 37000:2021 certification in 2025, the ESG Policy reaching its third version, and the consolidation of governance and sustainability oversight into a single committee, but G4 remains constrained by structural board composition weaknesses that have not changed year-over-year.
The Environmental pillar improved modestly in 2025 through demonstrable operational performance — a 9.5% electricity reduction and a 15% water reduction supported by expanded BMS investments, LED conversion progress, and five-year data granularity — with E2 and E4 showing the clearest improvement signals. However, the absence of formal GHG reduction targets, TCFD adoption, and renewable energy integration continues to cap Environmental scores in the mid-range, indicating that progress is operational rather than strategic.
The Social pillar maintained its position as the company's strongest ESG dimension in 2025, with S2 anchored by ISO 45001 certification and zero incidents, S1 benefiting from a significant CSR spend increase to KWD 72,553 (up ~73% from 2024), and S4 showing a continued multi-year training investment uptrend; S3 remains the Social pillar's weakest subcategory due to persistent zero female board representation and the absence of numerical D&I targets, which constrains the pillar's ceiling despite solid workforce-level diversity data.
Governance strengthened meaningfully in 2025 primarily through the ISO 37000:2021 certification, the ESG Policy reaching its third iteration, and the structural consolidation of the Governance and Sustainability Committee — all of which reinforce G2 and G5 excellence. G4 remains a structural drag on the Governance pillar, with zero female board representation, 25% board independence, and absence of a formal board effectiveness review unchanged from prior periods, representing the single most impactful governance improvement opportunity available to the company.
Key Improvements
Key Regressions
Al-Tijaria's ESG trajectory is positive but approaching an inflection point where continued score improvement will require structural changes — particularly the adoption of formal quantified climate targets and TCFD-aligned reporting, board diversity improvements, and integration of renewable energy — rather than the operational efficiency and compliance maturation that has driven progress to date. If the company builds on its ISO 37000 and ISO 45001 governance and safety foundations by extending third-party verification to GHG assurance and pursuing TCFD disclosure, it has clear potential to move into a higher ESG rating tier within the next reporting cycle.
Strengths
Areas for Improvement
S: 7.02
G: 7.03
Counted once per program · Mnakh-verified distinct deliveries counted separately · third-party records excluded
Recent Activities
View all →AlTijaria Holds 2nd Eshraqat Amal Art Exhibition for People with Disabilities
The Commercial Real Estate (AlTijaria) organized the second edition of the "Eshraqat Amal" art exhibition for people with disabilities, held October 19-20, 2026 at Symphony Complex in Salmiya under the honorary patronage of Sheikha Sheikha Al-Abdullah Al-Khalifa. Volunteers from the Integrated Care Foundation for People with Disabilities took part in organizing the event, which gave participants a platform to display and sell their artwork, with sponsorship support from several partner companies.
AlTijaria Holds Heart Health Awareness Campaign with Kuwait Heart Association
The Commercial Real Estate (AlTijaria) partnered with the Kuwait Heart Association to hold a heart health awareness campaign coinciding with World Heart Day, offering free blood pressure, blood sugar, and cholesterol screenings at Symphony Mall, AlTijaria Tower, Boulevard Complex, and the company's head office. A medical team from the association provided health guidance and answered participant questions on-site.
AlTijaria Joins Beach Cleanup for World Cleanup Day
The Commercial Real Estate (AlTijaria) took part as a platinum partner in a beach cleanup campaign organized by Spread the Passion on September 19, 2026, at the Kuwait Towers beach, marking World Cleanup Day. More than 350 volunteers participated at this site, out of over 1,000 volunteers across all campaign locations nationwide, collecting approximately 1.5 tons of waste. AlTijaria also distributed 75 eco-friendly bags to participants to promote sustainable practices.
AlTijaria Concludes Summer Children's Education Program
The Commercial Real Estate (AlTijaria) concluded its four-week interactive summer program 'Beyond the Screen,' organized in partnership with the 'Sagheerak Safeerak' educational initiative. Around 320 children took part in activities across AlTijaria's Boulevard Complex, Symphony Complex, AlTijaria Tower, and Dome Complex properties, covering gardening and greening, cooking, arts and crafts, and storytelling. The program marked its fifth consecutive year.
AlTijaria Trains Employees on Insider Trading Disclosure Rules
The Commercial Real Estate (AlTijaria) held an internal training session at its head office on the regulation of securities dealing by insiders, covering Book Ten (Disclosure and Transparency) of the Capital Markets Authority executive bylaws. The session was delivered by the Compliance and Governance Manager, Mansour Kamal, and Compliance and Governance Officer, Jaber Marafi, and addressed insider disclosure obligations, permitted and blackout trading periods, use of the CMA electronic disclosure system, and internal measures for safeguarding inside information. The training was organised by AlTijaria's Development and Learning Section in coordination with the Compliance and Governance Department and included a question-and-answer segment for participants.