Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with "Oman Construction" to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya's share is 40% while 12% is for Oman Construction and 12% for "Mina" real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.
Corrective announcement regarding a lawsuit disclosure
04-August-2026
Date:04/08/2026
Subject: Corrective announcement regarding a lawsuit disclosure
With reference to the above subject, and to our disclosure dated 03/08/2026 regarding a lawsuit disclosure , kindly find attached the corrective announcement form.
Corrective Announcement Form
| Date: |
04/08/2026 |
| Name of listed company |
Al Mazaya Holding Co. K.S.C.P |
| Announcement Title |
Corrective announcement regarding a lawsuit disclosure |
| The date of the previous announcement |
03/08/2026 |
| The wrong statement in the previous announcement |
There is currently no financial impact on the Group, as the Group had previously recognized a provision for the total amounts awarded by the Court of Appeal, together with the compensation amount and delay interest accrued from the date of the claim up to 30 June 2026. Such interest will continue to be updated as of the date of each set of financial statements issued by the Group. |
| Correcting the erroneous information |
There is currently no financial impact on the Group, as the Group had previously recognized a provision of AED 21,289,991 (equivalent to KWD 1,779,219), comprising the total amount previously awarded by the Court of Appeal, together with the compensation awarded and delay interest accrued from the date of filing the claim up to 30 June 2026. The accrued delay interest amounted to AED 2,485,428 (equivalent to KWD 207,709) as of 30 June 2026. Such delay interest shall continue to be updated as of the reporting date of each set of financial statements issued by the Group. |
| Reasons of the erroneous information |
The amounts of the provisions previously recognized by the Group were not disclosed in the announcement. |
The issuer of this disclosure bears full responsibility for the soundness, accuracy, and completeness of the information contained therein. The issuer acknowledges that it has assumed Care of a Prudent Person to avoid any misleading, false, or incomplete information. The Capital Markets Authority and Boursa Kuwait Securities Exchange shall have no liability whatsoever for the contents of this disclosure. This disclaimer applies to any damages incurred by any Person as a result of the publication of this disclosure, permitting its dissemination through their electronic systems or websites, or its use in any other manner.