Sector Peers — Real Estate & ConstructionTop 5 of 6
1
MabaneeMabanee
77.7
A+
2
The Commercial Real EstateAlTijaria
70.0
BBB
3
United Real EstateURC
67.4
BBB
4
Kuwait Real EstateAqarat
54.2
BB
5
Salhia Real EstateSalhia
44.5
B
Key Findings
Executive Summary
Mabanee demonstrates strong ESG governance and social performance, with comprehensive reporting aligned to GRI Standards and multiple international frameworks. The company excels in community engagement with KD 740,900 invested across 86 CSR initiatives, maintains excellent safety performance with zero Lost Time Incidents, and has robust ethics programs with 100% employee anti-corruption certification. However, the company faces significant environmental challenges with total GHG emissions increasing dramatically from 209,917 mtCO2e in 2019 to 697,435 mtCO2e in 2024, primarily driven by expanded Scope 3 emissions from downstream leased assets.
Strengths
Outstanding community investment and stakeholder engagement, contributing KD 740,900 across 86 CSR initiatives aligned with UN SDGs, supporting over 300 SME exhibitors with 29.2% start-ups, and providing 4,000 sqm of commercial spaces achieving 70% occupancy rates.
Exemplary safety and ethics performance with zero Lost Time Incidents among permanent workforce, 95% employee participation in OHSE initiatives, zero confirmed corruption incidents, and comprehensive whistleblowing programs with 24/7 multilingual hotlines ensuring 100% grievance resolution.
Robust governance framework and transparency with annual sustainability reporting aligned to GRI Standards and SASB, external ESG assurance, Board composition exceeding CMA requirements with 71% non-executive members and 100% attendance across 9 meetings, and comprehensive policy frameworks covering human rights, anti-corruption, and environmental management.
Areas for Improvement
Carbon emissions management requires urgent attention as total GHG emissions increased 232% from 2019 baseline to 697,435 mtCO2e in 2024, with Scope 3 emissions rising nearly 400% primarily due to expanded downstream leased assets, despite having only a 3% energy reduction target under Kuwait's Tarsheed Program.
Gender diversity in leadership positions remains limited with women representing only 3.5% of management in revenue-generating functions, 10.53% of senior executive positions, and 14% of Board representation, indicating need for enhanced diversity and inclusion strategies.
Sustainable finance integration appears underdeveloped with no specific green financial products mentioned and limited evidence of ESG-linked financing mechanisms, despite having ESG considerations integrated into investment decisions and GRESB benchmark alignment.
Performance Overview
Subcategory Radar
14 subcategories · 0–10
20242023
Pillar Contribution
of 70.70 total
70.7
Total
Environmental
23.6 / 40 · 33.4%
Social
23.4 / 30 · 33.1%
Governance
23.7 / 30 · 33.5%
Subcategory Treemap
Size = weight · Color = pillar
E12.5
Carbon Emissions Reduction · W:15
E28
Energy Efficiency & · W:10
E38.5
Climate Change Adaptation · W:10
S19
Community Investment & · W:10
G19
Transparency & ESG · W:10
S28.5
Workplace Well-being & · W:7
S36.5
Diversity, Inclusion & · W:7
G28.5
Compliance with ESG · W:7
S57.5
Sustainable Supply Chain · W:6
G47
Board Diversity & · W:6
E47.5
Water & Waste · W:5
G36
Sustainable Finance & · W:4
G59
Ethics & Anti-Corruption · W:3
Pillar Details
5.90
out of 10
Achievement59%
Contribution23.6 / 40
Weight40%
Subcategories4
E1
Carbon Emissions Reduction
2.5
▼-6.0 vs 2023
/10
Weight: 15
25% achievement
E2Verified
Energy Efficiency & Renewable Energy
8
▼-0.5 vs 2023
/10
Weight: 10
80% achievement
E3Verified
Climate Change Adaptation
8.5
▲+0.5 vs 2023
/10
Weight: 10
85% achievement
E4
Water & Waste Management
7.5
▼-0.5 vs 2023
/10
Weight: 5
75% achievement
Score Calculation
1
Pillar Scores
E: 5.90 S: 7.80 G: 7.90
Weighted averages (0\u201310)
→
2
Apply Weights
70.70
(5.90×4)+(7.80×3)+(7.90×3)
E:40% S:30% G:30%
→
3
R&C Deduction
−0.00
No controversies
→
4
Final Score
70.70
Range: 70–74.99
→
★
Rating
A
Mnakh Index Rating
ESG Activities
Activity Summary
3 activities in 2026
Environmental
1
Social
1
Governance
1
Counted once per program · Mnakh-verified distinct deliveries counted separately · third-party records excluded
Mabanee installed and began operating solar panels for the first time at its headquarters in The Avenues, Kuwait. The system comprises 104 panels with a total capacity of 65 kWp, expected to generate approximately 102,650 kWh of clean electricity annually and reduce carbon dioxide emissions by around 67 tons per year.
104 Solar panels installed65 kWp Total capacity102,650 kWh Expected annual electricity production
SS19 Aug 2026
Mabanee Approves Contribution to Kuwait Emergency Response Fund
Mabanee shareholders approved, at an ordinary general assembly held at the company's headquarters in Al Shaya Tower with a legal quorum of 76.363%, a contribution of USD 8 million (approximately KWD 2.5 million) to the Kuwait Emergency Response Fund. The contribution supports the national initiative aimed at strengthening state preparedness and capacity to respond to exceptional circumstances. The meeting was chaired by Vice Chairman Mohammed Abdullatif Al Shaya, with the contribution announced by Chairman Mohammed Abdulaziz Al Shaya.
8,000,000 Contribution amount (USD)≈2,500,000 Contribution amount (KWD)76.363% General assembly quorum
Kuwait Emergency Response Fund
GG1G4G38 Mar 2026
Mabanee Company Holds Annual General Assembly
Mabanee Company convened its annual general assembly, during which shareholders approved the Board of Directors' report, audited financial statements, corporate governance report, and authorized dividend distribution.
KWD 84.6 million Net profit29.7% Net profit growth83.6% AGM attendance
Great Place to Work, MSCI, S&P Global, CSR Hub, US Green Building Council, LEED
