Page 17 - 2023 Auunal Report - EN

16 ANNUAL REPORT 2023

Company
Establishment

Al Mazaya Is Widely Recognized As One Of The Most Prominent
And Highly Thought-Of Real Estate Development Companies In

The Middle East Market, With Numerous Impressive Projects.

The Company Came About Through A Belief In The Need For Strong, Rigorous Investment In The Region, And Has Prevailed
In Creating And Maintaining The Trust Of Large-Scale Investors In The Kuwaiti Market & Abroad.
The company was established in 1998 and started operation as Al Mazaya Holding Company in 2004 with a
paid up capital of KD 15 million to reach KD 48.5 million - approximately USD 158 million. Al Mazaya is a
publicly-traded company dually listed on both the Boursa Kuwait since 2005 and Dubai Financial Market since
2006. Since its inception, Al Mazaya has adopted a balanced expansion strategy allowing mitigating risk, while
maximizing investment and by doing so have witnessed strong growth.
Al Mazaya prides itself in providing various comprehensive real estate products and services in several fields,
among them housing projects such as deluxe villas and high-class residential buildings, commercial projects such
as office and retail buildings, and health projects such as medical centers and hospitality projects. Al Mazaya is
engaged in several other real estate fields such as purchasing, ownership, and selling of lands and its development
for the company within Kuwait and abroad.

Furthermore, Al Mazaya handles the management of third parties’ properties and management, operation and
investment, leasing and rent of hotels, health clubs, recreational parks, gardens, exhibition grounds, restaurants,
residential and commercial complexes, and touristic and health resorts.
Al Mazaya’s Investments have always focused on building strategic alliances and partnerships that allow for
developing the company’s competitive edge.