Annual report eng.2019

N otes To The Consolidated Financial Statements AL MAZAYA HOLDING K.S.C.P. AND ITS SUBSIDIARIES As At 31 December 2019 87 (All amounts are in Kuwaiti Dinars) ANNUAL REPORT 2019 b) Basis of consolidation: The consolidated financial statements incorporate the financial statements of the Parent Company and the following subsidiaries (together the “Group”): (a) On July 1, 2019 the Group increased its share in Al Mazaya Prime for Projects development Company – W.L.L. by 19% to be 99%. The Group has control over the financial and operating policies of the Company accordingly, the Group has reclassified its investment in that Company that was previously under joint control from an investment in joint venture to investment in subsidiary (Note 11). Real estate Real estate Real estate Real estate Real estate Real estate Real estate Real estate Real estate Real estate Real estate Real estate 97.98% 98% 89.91% 99% 100% 90% 100% 99.85% 99% 100% 100% 99% 97.98% 98% 89.91% 99% 100% 90% 100% 99.85% 99% 100% 100% - Principal activities Percentage of holding % Al Mazaya Real Estate Development Company K.S.C (Closed) GulfTurkey for GeneralTrading and Contracting CompanyW.L.L First Dubai Real Estate Development Company – K.S.C.P Mezzan Combined For GeneralTrading Company –W.L.L AlYammar Kuwaiti Agriculture Company S.P.C. Mazaya Ritim Istanbul Insaat Anonim Sirketi Mazaya Real EstateTurkey GayrimenkulYatirimlari Anonim Sirketi Al Mazaya Lebanon Company- S.A.L (Holding) Grand Mazaya Real Estate CompanyW.L.L Al Mazaya Real Estate Development Company L.L.C Mazaya Al Ghad – S.P.C. Al Mazaya Prime for Project Management -W.L.L. (a) 2019 2018 Country of incorporation Name of subsidiary State of Kuwait State of Kuwait State of Kuwait State of Kuwait State of Kuwait Turkey Turkey Lebanon KSA Oman UAE State of Kuwait