Page 52 - Q4-2024-EN

AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC)
AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2023
(All amounts are in Kuwaiti Dinars)

18. Non - controlling interests which are material to the Group
Subsidiaries with major non - controlling interests which are material to the Group is as follows:

Ownership percentage held Carrying value for NCI in a
Country of Principal by the NCI subsidiary
Name of subsidiary incorporation Activities 2023 2022 2023 2022
First Dubai Real Estate
Development Company State of Real Estate
K.S.C.P Kuwait Development 11.17% 11.17% 9,906,144 9,582,520

Summarized financial information for each subsidiary that has non-controlling interests that are material to the Group:

First Dubai Real Estate Development Company K.S.C.P

Summarized consolidated statement of financial position

2023 2022
Current assets 25,834,245 13,116,197
Current liabilities (5,135,045) (5,233,496)
Net current assets 20,699,200 7,882,701

Non-current assets 73,467,534 89,754,324
Non-current liabilities (5,445,860) (11,814,573)
Net non-current assets 68,021,674 77,939,751
Net assets 88,720,874 85,822,452
Ownership interest held by the NCI 11.17% 11.17%
Non-controlling interests 9,906,144 9,582,520

Summarized consolidated statement of profit or loss and other comprehensive income

2023 2022
Profit (loss) for the year 4,237,423 (4,839,314)
Other comprehensive (loss) income (1,502,934) 175,314
Total comprehensive income (loss) 2,734,489 ) 4,664,000 (
Total comprehensive income (loss) attributable to NCI 305,320 (520,760)

19. Revenue
The Group’s revenue disaggregated by primary geographical markets is as follows:

2023
Revenue from sale
of properties held Rental Medical services
for trading Income income Total
Continuing operations
State of Kuwait - 10,275,796 2,047,588 12,323,384
United Arab Emirates 751,142 1,035,167 - 1,786,309
Oman 267,537 201,763 - 469,300
Kingdom of Saudi Arabia - 772,772 - 772,772
Bahrain - 323,080 - 323,080
1,018,679 12,608,578 2,047,588 15,674,845
Discontinued operations
Turkey - 135,477 - 135,477
- 135,477 - 135,477
Total 1,018,679 12,744,055 2,047,588 15,810,322

48