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CEO’S MESSAGE
Mr.Ibrahim Al Soqabi
Al-Mazaya Company Profile
|Management Message
Esteemed Shareholders,
Peace Be Upon You,
I am honored, after having become a member of the Al Mazaya Holding Company family, to welcome you here today, and to
offer my heartfelt congratulations on the remarkable success achieved by everyone in this great company at the beginning of
a new era of further development and progress.
I am delighted to be able to outline the strong position that Al Mazaya Holding Company is in; a position in the real estate
development sector which could never be achieved other than with reliance on strategic planning, trust, well determination,
and integrity. This can be seen in Al Mazaya’s progression from conception to implementation to growth, and while we can
be allowed a moment of pride to recognize what we’ve done, we must therefore continue to innovate, grow, and expand.
Shareholders of Al Mazaya: I wish to take this opportunity to confirm that Al Mazaya has been able to maintain its strong
operational performance, and its prestigious position in the market within the framework of an ambitious (but realistic) plan
and long term strategic objectives. Short-termism can be a curse, and it is one we have avoided by keeping sight at all times
of out long term goals.
2013 witnessed a whole series of achievements and successes of which we can rightly be proud. Despite global financial
circumstances since 2008, Al Mazaya has managed to remain strong and solid through the continuous implementation of its
projects, which have become more resilient and recognized, with increased revenues through the completion of new projects
and income-generating assets.
Shareholders: Your company has succeeded during 2013 by entrenching itself in the market through a number of active steps,
including the restructuring of all financial obligations, which has provided the liquidity necessary for operational projects
and support for the timely delivery of existing projects, including the Villa Residential Project and «Liwan» Project” in Dubai.
Moreover,
The company has also been able to close a large number of successful transactions, which have contributed to the upgrading
of the financial situation of the company and increase in its assets, including taking possession of a third tower in the heart
of the capital of Kuwait (Al Mazaya Tower 3) through a swap deal that resulted in the sale of office space in Mazaya Business
Avenue in Dubai, in exchange for the Kuwait City tower and two pieces of land in the Q-Point Project .
Furthermore, the company has entered the sector of Warehouse and Logistics through the development of an industrial project
in Bahrain Investment Warf worth more than KD 6 million. The company has recently finished the design and licensing
procedures, as well as the establishment of steel work tender to the specialist contractors. The implementation and leasing
work will be completed by the end of this year.
Esteemed shareholders,
Speaking on behalf of Al Mazaya’s management team, I wish to assure you that our ambition has no limits, and that Al
Mazaya›s future will be replete with further studies for new income-generating and available-for-sale projects. Al Mazaya
has conducted extensive studies of the local, Gulf, and regional markets, as preparations to enter into the right sectors that
achieve the returns we expect with the low risk we need, taking advantage of the company’s previous experience and the
current market factors. We at this time emphasize that Al Mazaya still has many investment opportunities under study, which
are intended to see the light in the near future, in accordance with the strategic plan of the company. These projects will help
the company achieve another quantum leap ahead.
The company›s plans for the current year are to focus on getting into investments in new markets, following a strict schedule in
the execution and delivery of the current projects, bringing a broad marketing plan to market, selling all the current projects,
and completing the Al Mazaya Logistics project, so it can be fully leased.
Thank you for your vision, patience and integrity, and Peace Be Upon You.
Eng.Ibrahim Al Soqabi
GROUP CEO
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