United Projects for Aviation Services Company  ( UPAC )  stated in a disclosure to the Boursa Kuwait, that it intends to subscribe to the entire shares of the capital increase of one of its subsidiaries  Al-Arfaaj Real Estate Company with a number of 80 million shares and a total value of 8 million Kuwaiti dinars during the subscription period extending to November 5, 2024.

Al-Arfaaj Real Estate Company held its extraordinary general meeting on September 29, 2024, and approved increasing the company’s authorized capital from KWD 3,250,000 (three million two hundred and fifty thousand Kuwaiti dinars) to KWD 32,500,000 (thirty-two million five hundred thousand Kuwaiti dinars) distributed over 325,000,000 cash shares, with a nominal value of 100 Fils per share, and authorized its Board of Directors to decide to increase its issued and paid-up capital in one or more installments within the limits of the authorized capital.