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 had disclosed that one of its subsidiaries recommended to hold an extra ordinary general assembly meeting for shareholders to discuss the approval for disposal of land plots owned by the subsidiary in Dubai.
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: | 23/11/2022 |
| Name of listed company | Al Mazaya Holding Co. K.S.C. P |
| Disclosure Subject | Disclosure of material information |
| Date of previous disclosure | 2/11/2022 |
| Disclosure updates | First Dubai Real Estate Development Company K.P.S.C. (a subsidiary) had disclosed the Extraordinary General Assembly resolution of one of its subsidiaries approving the disposal of land plots owned by that subsidiary in the Emirate of Dubai, whether by sale or in exchange for lands or other assets or through any other means, provided that the value of exchanged land plots and/or assets shall not be less than 85% of the value of the land plots included in the financial statements of that subsidiary as of 31/12/2021. Furthermore, the General Assembly of that subsidiary agreed to dispose off any subsequent Lands or assets that will be owned or exchanged for those plots, whether through sale or exchange or through any other means. |
| Financial impact of the update (if any) | here is currently No financial impact from that matter . |
