SANAM Real Estate Announces Acquisition and Transformation Plan

SANAM Real Estate Company's Board of Directors convened on Monday, March 10, 2025, at 1:30 PM to discuss strategic decisions regarding the company's growth and expansion.

As part of its investment strategy, SANAM Real Estate has approved the acquisition of a 30.285% stake in an educational company for a total value of USD 6,075,000 (equivalent to KWD 1,873,200). This transaction involves a related party and aligns with SANAM's vision for long-term investments in high-growth sectors.

Additionally, the Board approved a major transformation plan and will submit the following recommendations to the General Assembly for approval:

Transitioning SANAM Real Estate from a real estate-focused company to a holding company.
Amending the company's Articles of Association and Memorandum of Association to align its business operations with Sharia-compliant principles.
Approving a 100% capital increase at par value (100 fils per share), with no issuance premium.

The capital increase will raise SANAM's authorized, issued, and paid-up capital from KWD 10,500,000 to KWD 21,000,000, subject to the approval of relevant regulatory authorities. All shares issued will be in cash, reflecting SANAM's commitment to financial growth and investor confidence.

These decisions mark a significant milestone in SANAM Real Estate's evolution and strategic repositioning, paving the way for diversified investment opportunities and enhanced shareholder value.