Amman, April 2008 – The General Assembly of the Real Estate Commercial Investment Company PLC (AQARCO) announced accepting the recommendation of the board of directors regarding increasing the company's current registered capital of JOD 7.5 million by JOD 62.5 million to reach a total of JOD 70 million.  The General Assembly also accepted to change the company's name to become "Jordan Dubai Properties" to be the investment arm of Jordan Dubai Capital with regard to the planning and development of investments in the real estate and tourism sectors in Jordan.  These decisions were made during the General Assembly's ordinary and extraordinary meetings held consecutively on Thursday 3 April at the Hyatt Amman Hotel chaired by HE Mr. Samir Z. Al-Rifai, Jordan Dubai Properties Chairman.

The General Assembly also approved and endorsed the proposed amendments to the deed of association and bylaws, which included changing the company's name and changing the declared capital to become JOD 70 million, distributed over 70 million shares at a value of JOD 1 per share.

In its meetings, the General Assembly also discussed the Board of Directors 8th report and future plan, which focuses on establishing new real estate development projects in the different areas of the real estate sector, in addition to developing the company's current assets and contributing in other leading real estate companies in Jordan.  The company's new real estate development project were explored, including the Munya Woodland Resort and Spa in Dibeen, with a cost amounting to USD 70 million; the Wadi Rum Resort, with a cost amounting to USD 10 million in phase one; Zara Resorts/ Dead Sea, with a cost amounting to USD 130 million in phase one; the smart office buildings in and around Amman, with a cost amounting to USD 30 million in phase one; in addition to the projects aimed at enhancing the company's current assets, which include the development of the AQARCO Center in Abdali and the Qwaismeh warehouses, as well as other projects that will be announced soon.