Kuwait's Al-Mazaya Real Estate Development Company, which is owned by al-Mazaya Holding Company, signed a development contract of a commercial complex, in which warehouses will be set up. The agreement was signed with the Arab Building Materials Compnay, reported the Kuwaiti newspaper, Al-Qabas on September 22, 2005.
The two companies have equal shareholding in the project and the contract value is put at 896.13 million Kuwaiti Dinars ($3 billion), including the buildings
and the utilization rights. According to the contract, Al-Mazaya will manage and
construct the project through the accomplishment period and then manage the
complex for a twenty years period.
