Al Qadisiyah United Real Estate Company held its extraordinary general assembly on November 13, 2024, and approved an amendment to Article (29) of its Articles of Association to read as follows:
- The Board of Directors shall elect, by secret ballot, a Chairman and a Vice-Chairman.
- The Chairman shall represent the company in its dealings with third parties and before the judiciary, in addition to other responsibilities specified in the contract. Their signature shall constitute the signature of the Board of Directors in relation to the company's dealings with others.
- They are responsible for executing the Board's resolutions and adhering to its recommendations.
- The Vice-Chairman shall substitute for the Chairman their absence or in case of any impediment that prevents them from exercising their responsibilities.
- The Board of Directors may not sell any company assets—be they real estate or shares in other companies—without the approval of the general assembly, nor may it pledge any of the company’s assets without the approval of the general assembly.
- The Board of Directors is authorized to conduct all operations necessary for managing the company according to its objectives, with its authority limited only by law, the company’s contract, or resolutions of the general assembly.
- The company’s contract shall specify the extent of the Board's authority regarding borrowing, pledging company real estate, contracting guarantees, arbitration, reconciliation, and donations (subject to the approval of the relevant authorities).