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The financial data announced reflects the vision and commitment of Al Mazaya to proceed with its increasing
growth. By end of 2014, the Company’s Total Assets amounted to KD 261.889 m compared to KD 228.116 m
during 2013. The total Shareholders’ Equity added up to KD 107.755 m end of 2014, compared to KD 97.167
m for 2013, representing a 10.9% increase.
As such, the Board decided to distribute cash dividends amounting to 6% of the paid-in capital; i.e. Kuwaiti 6
fils per share to the shareholders registered on the date of the General Assembly Meeting was held expressing
gratitude to the distinguished shareholders.
The board also recommended a reward to the Board Members amounting to KD 120,000 as for the fiscal year
ending on December 31st 2014 appreciating their efforts for improving the company›s financial status.
Distinguished Shareholders,
I have the pleasure to brief you on the accomplishments Al Mazaya has achieved in 2014 in line with our
strategy. Al Mazaya concluded the designs for 4 new buildings in the Emirate of Dubai (Dubai Land) preparing
to commence the implementation processes expected to conclude end of 2017.
Al Mazaya acquired a new land in “Sabah Al-Salem” area in Kuwait which spans for 2,000 m² at a strategic
location in order to build a sophisticated medical center in line with “Clover” Medical Project at Al-Jabriyah.
Al Mazaya concluded 80% of the designs to a new quality residential project on its owned land at Al-Mawaleh
(Seeb District) in Muscat, to be implemented on an area of 23,193m²; a project to be tendered to the contractors
prior to commencing the implementation process.
The Company managed to push forward the timetable for all under-construction projects, in line with Al Mazaya
Logistics in Bahrain, worth more than KD 6 million, hoping to positively impact Company revenues. The project
was 100% completed in 2014 and is currently under leasing.
Similarly, the Office Towers located at the heart of Kuwaiti capital are now 100% occupied.
As for Mazaya penetration into new markets, Al Mazaya announced its entry into the Turkish Real Estate Market
establishing a Turkish company: “Mazaya Turkey Real Estate Investment” in a promising step to geographically
expand and benefit from the promising investment opportunities in the new market.
As part of this expansion, Al Mazaya signed anAlliancewithDumankaya, one of the giant real-estate development
companies in Istanbul, whereby Al Mazaya develops joint ventures, benefiting from the experience and position
of theTurkish company in theTurkish real estate market.
Al-Mazaya has broadened its relations with many banks and investors as an endeavor to enter into strategic
partnerships for the development of its new projects in the Gulf region and the Middle East. The result of this
initiative was gaining new financial facilities of KD 32 million for Al Mazaya as well as its subsidiary companies.
Distinguished Shareholders,
Mazaya still has numerous investment opportunities under consideration, which are going to see light in the
near future according to the company’s strategic plan. The recent successes that Al Mazaya achieved despite
the recent market changes paved the way for more efforts to be exerted and new investments to be endeavored
at many sectors in this region.
Al Mazaya’s latest report briefs our 2014 major achievements and breakthroughs which take company
performance to ever higher anticipated standards for 2015 as we hope for additional successes this year God
willing.
Finally, I would like to express my deepest gratitude to the distinguished Board Members, all our employees,
executives, administrative and technical staff for their dedicated effort constituting the building blocks of
Mazaya success.
Thanking you and peace be upon you,
Mr. Rashid Al Nafisi
Chairman
