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 Co. had announced that one of its subsidiaries had signed swap agreements for the land plots currently owned by that subsidiary in the Emirate of Dubai with new land plots and rights to acquire land plots that can be developed in the Emirate of Dubai.
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
| Date: | 26/12/2022 |
| Name of listed company | Al Mazaya Holding Co. K.S.C. P |
| Disclosure Subject | Supplementary Disclosure of material information |
| Date of previous disclosure | 25/11/2022 |
| Disclosure updates | A subsidiary to Al Mazaya Holding Co. “ First Dubai Real Estate Development Company K.P.S.C.” had announced that one of its subsidiaries had signed swap agreements for the land plots currently owned by that subsidiary in the Emirate of Dubai with new land plots and rights to acquire land plots that can be developed in the Emirate of Dubai, noting that the fair value of the new land plots and the rights to acquire land plots, approximately KD 16.9 million, which equals approximately the book value of lands currently owned by its subsidiary, which amounts to approximately KD 16.8 million. |
| Financial impact of the update (if any) | There is no current significant financial impact on Al Mazaya Holding Company K.S.C. P. |
