Mazaya Profile Box 24-7

6 1.2 | CEO’S MESSAGE Al-Mazaya Company Profile |Management Message Mr.Ibrahim Al Soqabi GROUP CEO - Completing up to 50%of the construction work at Al Mazaya Residence project in theAl Seeb Province in the heart of the Omani capital, which is due for handover in Q2 of 2018. Construction work on the project’s foundation and basement that is spread over 6,614 square metres has been completed. The project’s first phase consists of 120 apartments and 28 shops. A large-scale marketing campaign has been implemented by the company for the project and resulted in selling 40% of the first phase units. Construction of the project’s 132-unit 2nd phase started and will be marketed soon. - We have continued to sell and rent the Ritim Istanbul Development, which consists of 6 residential towers and a mall. A large number of the project’s residential units have been sold, with the mall’s occupancy reaching 55 per cent so far by a number of key regional and global brands. - Al Mazaya Logistics project in Bahrain Investment Wharf has been totally rented out at a 100% occupancy rate. It represents an audacious business platform for logistics investments with a previous occupancy rate of 99 %. - Al Mazaya Holding continued its rental operations at its commercial tower in Al Olaya area, Riyadh, achieving an occupancy rate of more than 71% there and 90% at Al Maathar Towers. - Al MazayaHolding has been named among the top 50 companies listed on the Kuwaiti Stock Exchange by “ForbesMiddle East”, a leading source for reliable business news and financial information. The announcement was made at the annual ceremony organised by the magazine under the patronage of SheikhMohammadAbdullahAl-MubarakAl-Sabah, Minister of State for Cabinet Affairs. - Al Mazaya Holding has been ranked among the top 10 out of 233 listed companies in Kuwait for the second consecutive year, boasting the most robust and transparent corporate governance system for 2017. - We appliedVAT laws on its projects in the UAE and Saudi Arabia, by regulating its internal operations and dedicating a unit manned by qualified experts in preparation for the application of the tax across all Gulf markets over the coming period. Ladies & Gentlemen, I would like to conclude by thanking the Chairman and Members of Al Mazaya Holding for their unlimited support. I would also like to extend my thanks and appreciation to the partners and shareholders of Al Mazaya and all our strategic partners.The success we have made has been the result of your dedication and tireless efforts in creatively leading, implementing and executing the company ‘ s operations. I would also like to thank them for their staunch commitment to the mission and vision of Al Mazaya and the strategic plans that have been set to achieve the goals and aspirations of our shareholders and valued customers. Peace, mercy & the blessings of God be upon you all.....