Founded in 1972, AQARAT was the first real estate company to be listed on Boursa Kuwait in 1984. The company develops mixed-use retail, office, and car park space in Kuwait and has projects in the GCC, MENA, Europe, and the U.S. In the first nine months of 2023, the company had total assets worth $1.2 billion and recorded net profits of $34.3 million. The company had a market cap of $512.2 million as of November 14, 2023. In August 2023, AQARAT, in partnership with IHG Hotels & Resorts, introduced the first Vignette Collection hotels in the Middle East. Talal Jassim Al-Bahar is also the vice chairman of IFA Hotels & Resorts.