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.
Al Mazaya Holding Company Has Changed The Name Of Its Joint Venture Company In Turkey
With reference to the above mentioned subject, and to the instructions of the Capital Markets Authority regarding disclosure of material information number (CMA/R.N/I.D/2/2012) , Mazaya Holding Company has changed the name of one of its joint venture companies in Turkey from “Mazaya Turkey for Real Estate Investment Company to Ritim Istanbul Company”.
Furthermore, Ritim Istanbul Company has invested in a Real Estate project in the city of Istanbul for a total amount of 186,000,000 Turkish lira (One Hundred and Eighty Six Million Turkish lira) which is equivalent to 23,622,000 Kuwaiti dinar (Twenty Three Million and Six Hundred and Twenty Two Thousand Kuwaiti dinar) noting that there is no financial impact on the consolidated financial statements of Mazaya Holding company.
