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 disclosed the resolution of its BOD to approve offering all units of an investment property in the Emirate of Dubai for sale during the coming period, whose value amounts to approximately 16% of the total assets of Al Mazaya Holding.
With reference to the above subject and article 4-4-1 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
Form for disclosing material information
| Date: | 15/12/2022 |
| Name of listed company | Al Mazaya Holding Co. K.S.C. P |
| Material information | First Dubai Real Estate Development Company K.S.C.P (a subsidiary of Al Mazaya Holding) had disclosedة the resolution of its Board of Directors to approve offering all units of an investment property in the Emirate of Dubai for sale during the coming period, whose value amounts to approximately 16% of the total assets of Al Mazaya Holding Company K.S.C.P. |
| Effect of the material information on the company financial position | There is no financial impact on the company’s consolidated financial statements currently, as the financial impact will be included in the financial periods when that sale will take place by the subsidiary. |
