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.
Supplementary Disclosure of Al Mazaya Holding Company KSCP (Holding)
Reference to the above subject, and our disclosure on the date of 06/08/2023, kindly find attached the Supplementary disclosure form.
| Date: | 06/05/2024 |
| Name of listed company | Al Mazaya Holding Co. K.S.C. P |
| Disclosure Subject | Supplementary Disclosure from Al Mazaya Holding Company KSCP regarding the Lawsuit Disclosure |
| Date of previous disclosure | 06/08/2023 |
| Disclosure updates | A subsidiary of Al Mazaya Holding Company in the Emirate of Dubai, Al Mazaya Real Estate Company Free Zone LLC (plaintiff), amended its requests in the lawsuit raised No. 1441/2023 Commercial (Dubai Court of First Instance) by adding a claim amounting to AED 40,000,000 (equivalent to KD 3,353,720) as financial and moral compensation. |
| Financial impact of the update (if any) | Currently, there is no financial impact until a verdict is issued. |
