Mr. Maan El Rachid, Boubyan International Industries Holding's Chairman and Mr. Mahmoud Al-Jafar, Jiblah's CEO announced today that the shares of "Al-Diafa Al-Ahlia Real Estate Co" are placed for subscription. The subscription will take place through the distribution of a prospectus and subscription application to the investors of both companies who will have the priority. It is worth mentioning that "Al-Diafa Al-Ahlia Real Estate co", is fully owned by Boubiyan and Jiblah, whereas they have increased the capital of the company to K.D 40 million.

The company has purchased 50% of the Industrial Shuaiba City project in KSA acquiring therefore a surface of 30 Million square meters. On another hand, the company carries out the infrastructure works required for the land, in order to offer it later on to investors. The total cost of the project is K.D 240 Million.

Shuaiba Industrial City covers a surface of 30 Million square meters; out of which 17.5 Million square meters will be allocated to the Industrial area when the construction phase will be launched against 1 million square meter allocated to the residential complexes, construction works and other facilities provided that remaining surface coming to 10.5 million square meters is used to build city's infrastructure. Plots will be sold according to the free acquisition system. The development process will last 5 years and therefore the whole city will be sold in eight years.