First: Sister Companies
In continuation for the method followed by Sharaco in giving other investors a chance to participate in its projects, Sharaco has called for the establishment of (limited liability) companies that can carry out, manage and operate a number of hotel, tourist and recreational projects. Hence, Sharaco has contributed in the majority of these companies by not less than 50% of their capital. At the beginning of 2008 Sharaco was able to acquire the shares of the partners who are wishing to assign their shares by increasing the capital of Sharaco in return for compensating these partners by shares in Sharaco. Thus, 19,006,097 shares were issued for a nominal value of SR 10 for each share. Hence, Sharaco's capital became SR 690,060,970, instead of SR 500,000,000. Therefore, Sharaco has totally acquired the following companies: Riyadh Hotels and recreation Company LTD, Al-Khaleej Resort Areas, and the properties of these companies became ownership of Sharaco. The said companies are as follows:
- Al-Watan Park.
- Riyadh Marriot Hotel.
- Makarim Ceremonies Hall.
- Arrawda Recreational Park.
Moreover, Sharaco took over the majority shares of partners in the 4 sister companies. The companies in which Sharaco is currently contributing are:
- National Tourism Company.
- Makkah Hotels Company LTD.
- Tabuk Hotels Company LTD.
- Annakheel Company for Resort Areas.
- Al-Medina Hotels Company LTD.
- Saudi Hotel Services Company.
On 19/02/2012 THE Extra Ordinary General Assembly approved to increase the capital to become a SAR 1,000,000,000 through the issuance of bonus shares for every 2.23 share by covering this increment from the contractual reserve and the retained profits.
Second: Properties owned:
- Biyout Al-Mustaqbal.
- Diplomat Makarem Hotel.
- Makarem Residence Compound.
- Al-Jazeera Comound (East).
- Sharaco's building in Olaya (Al-Jazeera).