The company is a “Qatari Public Shareholding Company” of National and Gulf investors, established on 10 January 2008
with a capital of QR 1 billion, of which QR 500 million was paid, divided into 50 million shares.It was established under
Article No.68 of the Law No. 5 of 2002 concerning the issuance of commercial companies, and according to the terms
and conditions of the Memorandum of Association of the company and its Articles of Association. The establishment of the
company was approved under a decision by his Excellence Minister of Business and Commerce No. 22 of 2008, and the
election of its Board of Directors, chaired by Mr. Rashid Fahad Al Naimi.
The company offered 50 million of its shares into circulation during January 2010, covering the IPO by 100% of the IPO was
curved at the end of the which It announced the success of the operation on 14 February 2010. The Qatar Stock Exchange
announced its readiness for trading the company’s shares on the 11 October 2010, after the completion of the administrative
and technical procedures necessary for the company’s inclusion and circulation. The company was subsequently listed on the
17 of October that year.
The company operates in agreement with the provisions of the Islamic law, and specializes in such real estate investment and
development as: the establishment of residential, commercial and industrial compounds, real estate studies and consulting,
contracting, maintenance, brokerages and commission agencies, property-related commercial and real estate representation,
marketing, buildings and facilities management, mechanical and electrical equipments and appliances, import and export
related to company purposes, investment of company funds as a form of effective management of the company’s liquidity
at the discretion of the Board of Directors, and any other activities or purposes as subsequently determined by the General
Meeting of the company to the extent permitted under the Qatari regulations and laws in force and effect.
Mazaya Qatar Real Estate Development QSC considers itself a company defined strongly by its human capital - the ‘value’ of
its people. Its board of directors brings expertise from various countries and sectors - public and private alike - to ensure that
corporate governance is in line with international best practice, and that strategic decisions taken by management are based
upon the highest possible quality advice.
Likewise, the company’s executive management team brings together a top-tier mix of experiences and backgrounds. Mazaya
Real Estate development in 2010 signed a 20-year build, operate and transfer deal with Qatar Foundation to build and
manage two projects in Qatar - the residential segment of Sidra Medical and Research Center, located in the Education
City Development by Qatar Foundation; and the QR1billion Marina Mall project, covering a total area of 57,605 square
meters which Mazaya Qatar Real Estate Development will build and manage for Qatar Foundation. Qatar Foundation’s Vice
President of Administration is also Mr Rashid Al-Naimi - Mazaya Qatar Real Estate Development’s Chairman.The value that the
Foundation brings goes far beyond finance and logistics, but extends to a multi-stakeholder, multi-sector expertise that makes
Mazaya Qatar Real Estate Development QSC’s offering to clients a non-risk, high value proposition.
Mazaya Qatar aims to be one of the major real estate development companies in the Gulf. The underlining foundation is to
meet the highest expectations of local, regional, and international partners, and to enhance the building industry in the region
with dynamic and inspiring projects.
7 |
AL MAZAYA QATAR
Al-Mazaya Company Profile
| Al Mazaya Qatar
39
