The Company, through its subsidiary, owns Somerset Al Fateh - a 118 unit serviced residence building, situated in Manama (Kingdom of Bahrain). The building is located on the coast in Juffair, overlooking the Bay of Muharraq. Somerset Al Fateh offers one, two, and three bedroom apartments, with facilities such as two swimming pools, a business centre, and a state-of-the-art gymnasium. Somerset Al Fateh, valued at US$ 30 million, was the Company’s first acquisition and has been operational since April 2007. The company’s ownership in this property is estimated to be at 60% and it is noteworthy that this property served as the Company’s sole productive asset in 2007.