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AL MAZAYA HOLDING COMPANY K.S.C. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2011
MAlAYA
".\1;\1
ro
HAO
10. INVESTMENT IN ASSOCIATES
The group exercises significant influence over the operating and financial policies of First Qatar Real Estate
Development KS.C (closed) through the group's representation in the BOD of the company. Group also exercises
significant influence over Mazaya Qatar Real Estate Development Q.S.C through management agreement that
enables the Group to participate and influence the company's operating and financial policies.
Mazaya Qatar Real Estate Development Q.S.C
First Qatar Real Estate Development KS.C.(Closed)
Real Estate Development J.S.C.
2011
KD
13,746,183
Balance at the beginning of the year
Transferred from Investment available for sale
Additions
Group's share of results for the year
Disposal
Dilution gain
Foreign currency translation adjustments
670,000
(148,010)
(193,996)
14,074,177
(505,523)
Provision
Balance at the end of the year
13,568,654
24
Country of
incorporation
Ownership
Percentage
Qatar
Kuwait
Jordan
6.37
17.54
2010
2009
KD
11,247,105
8,569,475
418,187
(493,477)
(6,129,727)
134,620
KD
3,905,889
6,676,330
615,920
48,811
155
13,746,183
(482,380)
11,247,105
(832,281)
13,263,803
10,414,824