A new company has been established under the name Safir International for Hotel and Resort Management (a Kuwaiti closed shareholding company), with an authorized capital of KWD 5 million, divided into 50 million shares at a nominal value of 100 Fils per share, all of which are in cash.

The issued and paid-up capital amounts to KWD 1,250,000.

The company was established for the following purposes, without prejudice to the provisions of Kuwait Companies Law No. 1 of 2016 and its amendments and executive regulations:

Management and operation of hotels
Buying and selling resorts
Buying and selling land and real estate
Management and leasing of owned or rented properties
Development and management of land and real estate
Ownership of real estate and movable assets in the interest of the company
Property management on behalf of others

The company is authorized to carry out these activities both inside Kuwait and abroad, either directly or through agents.

It may also engage in any related, similar, supporting, or necessary activities to achieve its stated objectives.