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.
Mazaya acquires a new office tower in Riyadh costing SR 130,000,000
With reference to the above mentioned subject, and point 24 of the instructions of the Capital Markets Authority regarding disclosure of material information number (CMA/R.N./I.D./2/2012).kindly be advised that an wholly owned subsidiary of the Group in the Kingdom of Saudi Arabia has acquired an real estate investment property in Riyadh in an amount of SR 130,000,000 (Only One Hundred Thirty Million Saudi Riyal), approximately equivalent to KD10,488,400 (Only Ten Million Four Hundred Eighty Eight Thousand Four Hundred Kuwaiti Dinar), noting that the financial impact of the purchase of the property is represented in an increase in the value of the Group’s investment properties which will be reflected in the company’s consolidated financial statements for the fourth quarter of 2015.
