The postponed Extraordinary General Assembly of Effect Real Estate Company, held on August 13, 2025, approved the resignation of the company's current liquidator, Mr. Barak Abdulmohsen Al-Otaibi, due to the existence of shares in companies under liquidation that have not yet been finalized and may require a longer period to complete.
The assembly also approved the appointment of Mr. Sahib Saleh Khaja, representing Al-Safat Consultancy Company, as the new liquidator to complete the liquidation process for a period of one year only.
The liquidator’s annual remuneration was set at KWD 12,000.