Spirit Real Estate Development Company held its Extraordinary General Assembly on June 22, 2025, during which it approved an amendment to Article 5 of its articles of incorporation and Article 4 of its Articles of Association, both related to the company’s objectives and activities.

According to the amendment, the revised objectives of the company now include:

Buying and selling land and real estate, buying and selling resorts, constructing buildings and resorts, managing and leasing owned or leased properties (residential and non-residential), managing and operating hotel apartments and hotels, owning real estate and movable assets for the benefit of the company, third-party property management, land and property development, property reservation, and designing, building, operating, maintaining, and transferring projects under the PPP (Public-Private Partnership) model, as well as organizing and managing trade exhibitions.

Additional newly approved objectives include:

Real estate consultancy, building services and maintenance, conducting auctions outside of commercial centers and in recreational parks, beaches, and coastal areas, operating entertainment-focused exhibitions and markets, managing tourism facilities, establishing or participating in companies to carry out the company’s activities, trading in shares and bonds on behalf of the company, and investing surplus funds through financial portfolios managed by specialized entities.