Global Investment House will host a seminar in Shangrui-la Hotel in Dubai on Sunday 19 February 2006 at 2:00 p.m on the occasion of listing Al-Mazaya Holding Company on the Dubai Financial Market.
The seminar will cover the company operation and a quick view of the company financials and will be attended by Mr. Omar El-Quqa, Executive Vice President and Mr. Mohammad Abdulaziz, Financial analyst from Global. Al-Mazaya Holding Company will be represented by the Chairman Mr. Rashid Al-Nafisi and Eng. Khaled Esbaitah, the company Managing Director and CEO.
On the seminar, Eng. Esbaitah commented by saying that the listing of al-Mazaya on Dubai Financial Market comes after the successful launch on the Kuwait Stock Exchange last year in addition to the expansion strategy that the company has adopted in the local and regional markets resulting in excellent performance.
The company has been very aggressive in its strategy since its inception. It focuses on three sectors in the real estate industry which are the main sources of revenue for the company. The first sector is the purchase and development of lands for investment and commercial proposes. The second sector the company focuses on is acquiring buildings and towers with the intent to lease them in addition to the development of these projects.
The third sector is the management of third party properties similar to the case with the project in Dubai International Financial Center which amounts to KD 50 million (USD 170 million) and is owned by First Dubai Holding company and the Kuwait Business Town which amounts to KD 80 million (USD 270 million).
Eng. Esbaitah ended by saying that the listing of Al-Mazaya on Dubai Financial Market is expected to attract a lot of investors from the United Arab Emirates similar to the case when it got listing on Kuwait Stock Exchange last year.
