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AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC) AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2023
(All amounts are in Kuwaiti Dinar)

18. Non-controlling interests which are material to the Group
Subsidiaries with major non - controlling interests which are material to the Group is as follows:

Ownership interest held by the NCI Carrying value for NCI in a subsidiary
June 30, December June 30, December
Name of Country of Principal 2023 31, 2022 June 30, 2023 31, 2022 June 30,
subsidiary incorporation activities (Audited) (Audited) 2022 (Audited) (Audited) 2022

First Dubai Real
Estate
Development
Company State of Real Estate
K.S.C.P Kuwait Development 11.17% 11.17% 11.17% 9,618,418 9,582,520 10,279,122

Summarized financial information for each subsidiary that has non-controlling interests that are material to the Group:

First Dubai Real Estate Development Company – K.S.C.P.

Summarized consolidated statement of financial position:
December 31,
June 30, 2022 June 30,
2023 (Audited) 2022
Current assets 20,948,351 13,116,197 12,550,816
Current liabilities (5,785,772) (5,233,496) (4,104,507)
Net current assets 15,162,579 7,882,701 8,446,309

Non-current assets 76,801,179 89,754,324 95,731,474
Non-current liabilities (5,819,800) (11,814,573) (12,116,457)
Net non-current assets 70,981,379 77,939,751 83,615,017
Net assets 86,143,958 85,822,452 92,061,326
Ownership interest held by the NCI 11.17% 11.17% 11.17%
Non-controlling interests 9,618,418 9,582,520 10,279,122

Summarized consolidated statement of profit or loss and other comprehensive income

For the three months ended For the six months ended
June 30, June 30,
2023 2022 2023 2022
Profit for the period 190,339 459,387 778,398 881,611
Other comprehensive income (loss) 102,122 751,691 (272,582) 770,916
Total comprehensive income 292,461 1,211,078 505,816 1,652,527
Comprehensive income attributable to NCI 32,655 135,223 56,477 184,513

19. Revenue:
The Group’s revenue disaggregated by primary geographical markets is as follows:

Six months period ended June 30, 2023 (Audited)
Revenue from
sale of properties Rental Medical
held for trading Income services income Total
Continuing operations:
State of Kuwait - 5,004,091 945,478 5,949,569
United Arab Emirates 305,813 729,002 - 1,034,815
Oman - 92,666 - 92,666
Bahrain - 155,517 - 155,517
305,813 5,981,276 945,478 7,232,567
Discontinued operations:
Kingdom of Saudi Arabia - 372,248 - 372,248
Turkey - 135,477 - 135,477
- 507,725 - 507,725
Total 305,813 6,489,001 945,478 7,740,292

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