Al Mazaya's Dubai market value exceeds Dhs8bn

The company, which recently exceeded Dhs8bn in market value, has rapidly grown into a major regional real estate developer, and is currently managing subsidiaries in Lebanon, Jordan, Qatar and the UAE.

During the event, Al Mazaya exhibited its new Dhs2bn Queue Point mixed-use project, which targets low and middle income markets, as well as its other developments. Queue Point, which is located at the Liwan-Eastern gateway of the Dubailand entertainment complex in Dubai, will borrow elements from San Francisco's urban structure and style. The project will include one-, two-, and three-bedroom apartments and commercial buildings complete with garden areas and waterfalls. Phase two of the project is 95% sold out, while phase three is currently under construction; all phases of Queue Point are being featured at the International Property Show 2008.

Khaled Saeid Esbaitha, CEO, Al Mazaya Holding Co., said,

"Al Mazaya is the first company to provide a comprehensive real estate index in the Gulf, which includes indices and explanations on regional real estate sector activities and covers the Gulf nations of Kuwait, Bahrain, Qatar, the UAE, Oman, and Saudi Arabia. This is our company's second year of participation in the International Property Show as we believe the show to be a major platform for real property exhibitors to pursue further growth and development."

Al Mazaya, a Kuwait-based property shareholding company with a paid-up capital of Dhs402.7m, currently trades on the Kuwait and Dubai stock markets. The company offers a comprehensive line of real estate products and services covering housing projects such as residential buildings and deluxe villas, as well as commercial projects such as offices, retail buildings, and industrial structures. It also handles the purchasing, allotment and management of large vacant properties. Al Mazaya's impressive lineup of projects in Dubai includes the Sky Gardens, The Villa, The Icon, Mazaya Business Avenue, Global Tower, Al Maha Villas, Kuwait Business Town, and Mazaya Health Clinic.

"The presence of regional developers such as Al Mazaya from Kuwait is a further testament to the significant appeal of International Property Show to regional developers as a high impact event that initiates multi-billion worth of investments and encourages networking among leading industry players. As we near the closing of this remarkable event, we would like to extend our heartfelt appreciation to everyone who had been a part of this year's show, with hopes that we will all be seeing an even stronger presence from them next year," concluded Martina Molloy, Exhibition Director, Strategic Marketing & Exhibitions.