Annual report eng.2019

Ladies and Gentlemen, Valued Shareholders, My warmest greetings to you all… I am so pleased to welcome you all at our annual gathering to extend our thanks and appreciation for your continued support, which is always the starting point for all our choices and achievements. Every year we meet together to review the performance of the past year and identify the key achievements of the last year, which would not have been made but for your confidence in Al Mazaya’s immense potential to continue to progress and thrive. The year 2019 witnessed immense difficulties and challenges in the markets in which Al Mazaya is operating, including Dubai and Turkey, which had their own bearing on the company’s liquidity position. Such headwinds necessitated the development of a rapid and decisive action plan to secure sufficient liquidity to fulfil all the company's financial obligations for banks and contractors and maintain the company's loan repayment plan. Today, we are determined as always to establish a solid basis that can uphold our future aspirations through an integrated strategic vision aimed at promoting and diversifying our investments within new sectors and markets. This strategic vision is aimed at ensuring progress, prosperity and steady growth, and is driven by recognised administrative and operational standards based on transparency, credibility and sustainability. GROUP C EO MESSAGE OF ACHIEVEMENTS Eng. Ibrahim Al Soqabi Group CEO