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.
Seven Zones Real Estate Co. has become a member of the Board of Directors of Al Mazaya Holding Co.
With reference to the above mentioned subject, and to point 9 from the Third Section of the instructions of the Capital Markets Authority regarding disclosure of material information number (CMA/R.N./I.D./2/2012), we hereby inform you that Seven Zones Real Estate Company K.S.C.C. has become a member of the Board of Directors of Al Mazaya Holding Company K.S.C.P (Holding) being the first reserve member elected from the Annual General Assembly of Al Mazaya Holding Company K.S.C.P (Holding) in its meeting held on 09/06/2013, and this is in accordance to article (223) of the Companies Law number 25 for the year 2012 and to continue the membership tenure of the resigning member, and as such, Seven Zones Real Estate Company K.S.C.C. has appointed Mr. Abdulaziz Abdullah Hasan Al Rasheed representing the company on the board of Al Mazaya Holding Company K.S.C.P (Holding)
