Announcements & Disclosures

Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with "Oman Construction" to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya's share is 40% while 12% is for Oman Construction and 12% for "Mina" real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.

First Dubai Real Estate Development Company K.S.C.P (a subsidiary of Al Mazaya Holding) disclosed that it has amended part of the agreement related to the sale of all the shares of its subsidiary company in the Kingdom of Saudi Arabia.

18-January-2023

Date: 18/01/2023

 

Subject: Supplementary Disclosure of material information

With reference to the above subject and Paragraph (22) article 4-1-1 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities, kindly find attached disclosure of material information form

 

Supplementary Disclosure


18/01/2023

Date:

Al Mazaya Holding Co. K.S.C. P

Name of listed company

Supplementary Disclosure of material information

Disclosure Subject

26/09/2021

15/03/2023

Date of previous disclosure

First Dubai Real Estate Development Company K.S.C.P (a subsidiary of Al Mazaya Holding) disclosed that it has amended part of the agreement related to the sale of all the shares of its subsidiary company in the Kingdom of Saudi Arabia against cash and in kind, through eliminating one of the towers owned by its subsidiary company from the agreement due to the incompletion of some of the procedures within the agreement by the buyer, and the value of this property (tower) is approximately two million Kuwaiti dinars.

Disclosure updates

Currently there is no material financial impact on Al Mazaya Holding Company K.S.C.P., and the financial impact will be determined upon completion of the agreement and final implementation of all its procedures between First Dubai Real Estate Development Company (the subsidiary) and the buyer.

Financial impact of the update (if any)