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May Peace, Mercy and the Blessings of Allah be upon you!
It gives me great pleasure to meet you again at the beginning of an auspicious year that, God willing, will
add a new chapter of success to Al Mazaya Holding’s track record of achievements. We are here to present
the 2016 Annual Report, which proves Al Mazaya Holding ability in continuing its steady growth, relying
on the energy and drive of its people to reach new great heights of success at all levels, starting from
asset management, going all the way down to execution, marketing, close-out and handover of different
projects.
Before I begin to reveal the financial results and achievements of last year, by the grace of the Almighty
Allah, and thanks to the prudent strategy adopted byAl Mazaya Holding, I would like to sincerely thank and
express my gratitude to all our shareholders who have wholeheartedly supported us since our inception.
Honorable Shareholders,
In 2016, Al Mazaya Holding managed to ensure a steady performance and positive results all year round
in all its platforms, proving its real value and stature as a pioneering real estate developer in the region.
The company has continued to make great strides in its financial results and reported a net profit of KWD
10.25 million by the end of 2016, which is a 10.02% increase from the KWD 9.32 million achieved by
the end of 2015 – earnings per share (EPS) were calculated at 16.51 fils per share by the end of 2016,
compared to 15.04 per share by the end of 2015. These achievements were made by the grace of Allah
and due to the focus on sale and rent operations, the timely delivery of projects in accordance with the
predetermined schedule, the well-thought out marketing plan, the huge demand for the units available for
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Mr. Rashid Al Nafisi
Chairman
ANNUAL REPORT
2016