Arab Today, arab today developer inks deals to restart dubai projects
Last Updated : GMT 12:26:53
Arab Today, arab today
Arab Today, arab today

Developer inks deals to restart Dubai projects

Arab Today, arab today

Arab Today, arab today Developer inks deals to restart Dubai projects

Dubai - Arabstoday

Kuwait-listed developer Al Mazaya Holding said on Saturday it had signed contracts to restart some of its suspended real estate projects in Dubai. The company said between 70-80 percent of its problems in Dubai had been resolved and was noticing \"some signs of demand on real estate units by international companies\". The renewed demand has encouraged Al Mazaya to sign construction resumption contracts for some of its projects in Dubai, it said in a statement without giving further details. The company added that it was in the process of resuming another project soon. The announcement came as Al Mazaya Holding reported a net loss of $57.2m in 2011, weighed by provisions totalling $142.9m. Rashid Al Nafisi, chairman, said that Al Mazaya Holding was able to \"deliver its real estate projects inside Kuwait and abroad and to pay a large part of its obligations to companies, investors and individuals in 2011\". He added: \"Al Mazaya was able to maintain its financial standing, operational performance and market position thanks to careful planning and the implementation of the firm\'s precautionary 2011 policy, which took into consideration both the general economic climate and recent financial developments in the global markets.\" The company\'s total assets amounted to $950.9m by the end of 2011, the statement added. Naif Al Awadi, CEO of Al Mazaya Holding, said: \"We have made a quality leap in operations in the last two years... We have reduced our obligations and delivered three times more projects than what we used to deliver annually during the previous years.\" Al Awadi said that Al Mazaya would continue to seek to restructure assets, improve budgets, refocus on revenues this year. In Dubai, Al Mazaya\'s projects include The Villa, Dubai Healthcare City, The Icon (1&2), Sky Gardens, Al Mazaya Business Avenue and Queue Point at Al Liwan, in addition to other projects in Kuwait, Lebanon and Jordan.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today developer inks deals to restart dubai projects Arab Today, arab today developer inks deals to restart dubai projects

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday