The Board of Directors approved during its meeting on Thursday, May 11, 2023, to exchange properties with its subsidiary company (Fanan Real Estate Company) as follows:
Selling the property in Farwaniya from Sanam Real Estate Company to its subsidiary company, Fanan Real Estate Company, at a book value of KD 2,240,000.
Transferring the right of use of land in the United Arab Emirates – Dubai, from the subsidiary company Fanan Real Estate to a subsidiary of Sanam Real Estate Company to be established in the UAE, with a book value of KD 1,251,056.
The Board of Directors approved the in-kind increase of its subsidiary's capital in the value of the property owned by Sanam Real Estate Company in the Bneid Al Gar area at a book value of KD 2,700,000.
