AnnualReport

Dear Shareholders and Partners in Success,

It gives me great pleasure to be here at the beginning of a promising year. I wishmany happy returns for Al Mazaya

Holding and for us all. I will be providing updates for the business status of our company over the past year,

including the many milestones we have added to our track record of achievements. Reflecting the in-depth vision

adopted by the company in terms of creating distinctive Real estate investments in new markets and platforms,

the significant accomplishments in 2016 are the result of our core principles which strike a balance between our

current operating plans and our future investment enterprises.

As part of its growth-driven methodology, Al Mazaya Holding ushers in strong indications of growth in 2017

supported by the great strides made during 2016. Last year, we have managed to strengthen our stature as a

pioneering regional company, efficiently operating in areas of real estate and other types of associated investments.

Noble Brothers & Sisters

Guided by a prudent strategy that is based on ensuring operational and administrative performance while

maximizing returns, Al Mazaya has achieved and delivered in all of its business platforms.Within this context, I’m

proud to present the achievements made during 2016 that have been aligned with the 10-step strategy adopted by

the company over the past years; thanks toAllah theAlmighty, 2016 has the lion’s share of these milestones which

I will summarize in the following:

1st GOAL: Sidestepping Market Risks

Al MazayaHolding increased its shares from itsTurkish partner from40% to 90%.TheTurkish real estate developer

is the owner of Ritim Istanbul Development where over 80% of the units have been sold and 50% rented. This

has had a positive impact on the operating revenue generated from sales in the company’s financial results for

H42016-.

2nd GOAL: Embarking on New Developments Every Fiscal Year

- The company started execution of six new developments in 2016, finalising the foundation work of its Queue

Line Residential Project, which consists of two new buildings, in Dubai Land, Dubai. The design work of the 500-

flat Queue Zone project in Dubai is progressing and approaching completion.

Eng. Ibrahim Al Soqabi

Group CEO

ANNUAL REPORT

2016