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 signed a contract for Islamic facility in Sultanate of Oman
One of the subsidiaries of Al Mazaya Holding Company has signed a contract for Islamic facility in Sultanate of Oman for an amount of RO 10,455,000 (Rial Omani Ten Million Four Hundred & Fifty Five Thousand Only) equivalent to KD 8,200, 000 (Eight million two hundred thousand Kuwaiti dinars Only) for a tenor of 12 years for the purpose of constructing a residential and commercial project. This is collateralized against Freehold land in Sultanate of Oman. Related financial Impact of this transaction will be recorded in consolidated financial statement upon utilization of the above mentioned facility.
