Page 5 - AnnualReport-2021-EN

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Chairman's statement

Message From

Chairman

’’Dear

Brothers and

Sisters, Valued Mr. Rashid Al Nafisi
Shareholders Chairman

Peace, Mercy which had a significant negative effect team, the Company was able to lay down

and Blessings on all the economies and world markets, and implement a realistic action plan
particularly the services, tourism and
adapted to the circumstances to deal
of God upon aviation sectors and their support with these challenges and their negative
impacts, while continuing to maintain
sectors, which cast its shadows on the
You ’’ markets and economic activities in the Company's real estate tenant base
and diversify the sources of income in
our Arab region and the Arabian Gulf.
This has started with the effects of the addition to managing the Company's
precautionary measures adopted by all cash flows and reducing its expenses in
We are pleased to welcome you again the world countries to control the spread order to achieve this goal.
with our first meetings in the new year, of the epidemic and protection of their
after a year full of challenges on all local, citizens, to the significant shrinking The Company’s plan in 2021 was
regional and international scales, and resulting from the slowdown in the based on the positive aspects that were
appeal to the Almighty God to bless us markets and economies as a result of achieved during the outbreak of the
and you with all goodness, success and the spread of this epidemic. This has new corona epidemic by maintaining
prosperity, and for the present year 2021 negatively reflected on the real estate the stability of the constant liquidity
to be a year of transformation in the markets with all their products, whether resulting from the leasing operations
journey of Mazaya Company towards real estate development processes, sales, of the Company’s current projects and
new prospects. During this year, we look leasing or property management. enhancing the inputs of the Company’s
forward to upgrading the Company's real estate portfolio to improve this
Working System on all the administrative, However, by the grace of God Almighty, liquidity, as well as managing the
operational and financial scales, and in we took the initiative to reduce these Company’s substantive obligations
line with the changes of the stage and negative impacts on the Company’s towards the Company’s other creditors
rapid developments witnessed by the operations as much as possible, with such as the banks, major suppliers and
entire world. the aim that the year 2021 would be a others, in addition to entering into new
turning point in the Company’s journey sectors to diversify the Group's sources
Valuable Audience, towards its return to profitability and of income.
The entire world, of all sects and growth again. With the efforts of the
institutions, witnessed in 2020 the board of directors members and the
outspread of the novel corona epidemic, Company’s administrative and executive