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.

A Lawsuit disclosure



Subject: A Lawsuit disclosure

With reference to the above subject and to paragraph (14،22) of 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 the attached Lawsuits disclosure form.

 Lawsuits Disclosure Form



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

Name of listed company

633/2023 Real Estate (Dubai Courts of First Instance)

Automated Lawsuit numberLawsuit Number

Some buyers of real estate units in one of the group’s projects in the Emirate of Dubai filed a lawsuit against the company and one of its subsidiaries in the Emirate of Dubai, demanding the annulment of the reservation forms for the subject real estate units of this lawsuit between the parties, and demanding that the defendants be jointly obliged to refund a total amount of AED 5,530,321 (equivalent to almost KD 462,000), which includes a claim amount of AED 4,030,321 as well as an amount of AED 1,500,000 being a compensation for material and punitive damage in addition to the legal interest of 9% until full payment.

Subject of the Lawsuit


The Court Judgement / Verdict date Court circuit

Dubai Court of First Instance

The name of the Court that issued the Judgement / Verdict

Helen Jane Tatham and Pauline Mary Leale (plaintiffs)against Mazaya Real Estate Free Zone LLC and Mazaya Holding (defendants)

Parties of the Lawsuit

The Plaintiffs

The Judgment / Verdict in favor of

The court ruled in the presence of defendants to oblige them jointly to pay to the plaintiffs an amount of AED 2,944,129.57 (equivalent to almost KD 247,000) and the legal interest thereon at the rate of 5% annually from the date of the judicial claim on 07/06/2023 until full payment in addition to the proportionate legal expenses and a legal fee amounting to AED 1,000,while rejecting all other claims.

Court of First Instance Judgment / Verdict

No court verdict has been issued

Court of Appeal Judgment / Verdict

No court verdict has been issued

Court of Cassation Judgment / Verdict

The company is in the process of appealing against that court verdict in front of The Court of Appeal. Also, the company had booked full provision against the total value of that claim during last year on the basis of conservatism, and hence, there is no financial impact on the company’s results of operations due to that court verdict.

The expected financial impact on the company as a result of the Judgment / Verdict