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Abu Dhabi – Al Watan
Al Mazaya Holding Company KSC Announced its financial results for the first half of 2018, confirming a net profit of 35.33 million AED over the period and a profit of 5.65 threads.
On the occasion of the Council meeting held on Sunday, Al-Mazaya Holding, through which it was able to carry out sales, leasing and delivery operations, realized a total operating profit of AED 164.46 million at the end of the first half of 2018. The total business turnover results from the conservative plan of the new Leasing business turnover grew by 11.26% to AED 50 , 58 million against AED 45.46 million the previous year.
In commenting on results of operations The company continued to record high occupancy rates in its revenue-generating projects throughout the region, from Kuwait to Saudi Arabia, Dubai, and Dubai. in Bahrain, while the company made sales on its properties available for sale. Series, "The total assets of the company at the end of the first half amounted to 2,694.41 million dirhams, while total equity amounted to 1,315.19 million dirhams. at the end of the first semester of 2018.
First half results
Al Mazaya made significant progress in concluding investment contracts with doctors as part of its third project in the Medical Sector "Benefits of Clinic 3" On the 25 floors of Benid Al-Qar, the company began to equip the building and the rehabilitation of the interior and exterior to receive doctors and tenants who have already signed the investment contracts for pharmacy and radiation center.
More than 30% of the QZON I project was completed under the Al Liwan project at Dubailand of a capacity of more than 500 housing units for the Housing Service The company has completed the design and approval work of the QZON II project, in Dubai Land with a capacity of more than 450 housing units for the Mediterranean housing service.
The company completed the final design work for its new project in the Sharq region of Kuwait (Mazaya Down Town) through the largest engineering offices in Kuwait. "In preparation for obtaining building permits by the relevant government agencies.After the completion of Concept Design by one of the largest architects firms in the world, Gensler in London, the company has also made significant progress in the licensing process in preparation for the project.
And the completion of the construction completion certificate in order to start the delivery of residential and commercial units to the owners, after achieved a sales rate of more than 37% in the project consisting of 148 residential units and commercial residential complexes in the most vital places in Muscat, Behind the city center .The company also began implementing the second phase of the Mazaya Residence project in Amman, which includes 132 residential and commercial units with a completion rate of over 40% .This will soon be on the ma
The company continued to sell and lease the rest of the project "Ritm Istanbul", consisting of 6 residential towers and a shopping center. And the occupancy rate in the mall by 55% by the largest brands and international brands.
In conclusion, Al Mazaibi said that Al Mazaya has many investment opportunities that are currently being investigated in the markets where it operates, in addition to international markets, The company is expanding rapidly because the company monitors the evolution of global financial markets and its implications on the property market in order to expand the global scale and the impact on the company of new projects, stressing that the growth benefits in these markets will include the entry
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