Altar Group
| Altar Group Limited | |
|---|---|
| Adult Entertainment Company | |
| File:Altar Group Headquarters.jpg A reception room at the Altar Group headquarters in Sana'a | |
| Company Information | |
| Incorporated | 18 January 2023 Ras Al-Khaimah, United Arab Emirates |
| Headquarters | Sana'a, Yemen |
| Type | Privately-held |
| Industry | Adult Entertainment |
| Chairman | TBD |
| CEO | TBD |
| Revenue | $186 billion (2033) |
| Pre-Tax Profit | $131 billion (2033) |
| Valuation | N/A |
| Employees | 2,072 |
| Shareholders | Minerva Holdings (83.3%) Banque Saint-Germain (4.0%) Others (11.7%) |
Altar Group Limited is
a privately-held investment holding company incorporated in the emirate of Ras Al-Khaimah in the United Arab Emirates. It holds a leasehold title to the island of Socotra in Yemen, and its business is to act as the de facto government and development authority of the Socotra Special Administrative Region. The lease was granted by Emir Ayyub Fahad Al-Ansari, and runs until 5 January 2126.
Scimitar's revenues are derived mostly from the sale of land rights and permits in Socotra. In addition, it also levies taxes on various types of business activities within the SAR and earns dividends from its equity stakes in a number of companies, including Socotra Energy, SocoTel, Socotra Medical Corporation, SocoLand, and Air Socotra.
Scimitar also owns and exercises control over a number of public services within the SAR which cover areas that would traditionally fall under government control. These include the Socotra Gendarmerie, Socotra Civil Defense Services, Socotra Judicial Service, Socotra Land Management Commission, Socotra Gaming Commission, Socotra Prostitution Office, and Socotra Labor Agency. The Administrator of Socotra, the Mayors of Hadibu and Qalansiya, and all members of the Socotra Special Administration Authority are appointed by Scimitar without the need for oversight from the Yemeni government.