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ANNUAL REPORT
2016
N
otes To The Consolidated Financial Statements
AL MAZAYA HOLDING K.S.C.P. AND ITS SUBSIDIARIES
As At 31 December 2016
Valuation of properties held for trading were conducted by two independent appraisers with recognised and
relevant professional qualifications and experience of the location and category of properties being valued.
The reversal of impairment provision was calculated based on the lower of the two valuations. Net realisable
value of the properties held for trading is arrived at by reference to industry acknowledged methods of
valuations that depend on market data including recent sales value of comparable properties, annual rental
income and capitalization rate.
Properties held for trading mainly comprise the following:
13. PROPERTIES HELD FOR TRADING
Balance at the beginning of the year
Additions
Arising on business combination (Note 6)
Disposals
(Provision for) write back of impairment loss during the year
Foreign currency translation adjustments
Balance at the end of the year
71,653,133
16,977,740
12,309,657
)31,627,409(
)296,282(
19,419
69,036,258
98,751,223
11,347,712
-
)42,375,649(
1,411,010
2,518,837
71,653,133
2016
KD
2015
KD
2016
2015
8,863,578
35,084,090
1,212,201
45,159,869
9,202,901
22,170,278
1,264,816
32,637,995
-
23,201,640
674,749
23,876,389
-
38,345,875
669,263
39,015,138
8,863,578
58,285,730
1,886,950
69,036,258
9,202,901
60,516,153
1,934,079
71,653,133
Land
Properties under development
Developed properties
Land
Properties under development
Developed properties
Unsold
KD
Unsold
KD
Sold
KD
Sold
KD
Total
KD
Total
KD
110