The extraordinary general assembly of Arkan Kuwait Real Estate Company ("Arkan") has approved the merger agreement by way of incorporation with ALOULA Real Estate Investment Company, where Arkan will be the merging company and "First for Real Estate Investment" will be the merged entity through the dissolution of the first investment company, transferring its financial liabilities to "Arkan."

The assembly also approved the asset valuation report, the independent investment advisor's report, and the exchange ratio for shares, along with an increase in the authorized, issued, and paid-up capital of Arkan, with a non-cash increase reflecting the net assets of the merged company from 25.1 million dinars to 31.1 million dinars.