By Amr Adel

Dubai – Mubasher: Al Mazaya Holding is currently weighing between four global markets for its new investments, said chief of business development and marketing officer, Salwa Nabil Malhas.

Based on a board recommendation in 2016, Al Mazaya is mulling expansion plans in new markets outside the Arab region, Malhas added on the sidelines of Cityscape Global 2017 held in Dubai.

Al Mazaya is considering investing in the US, the UK, Australia, or Canada, the top official revealed, noting that the company currently invests in the six GCC markets, besides Turkey.

Malhas expects Al Mazaya to launch its investments in 2018, noting that expansion comes along with the company’s plans to maintain the level of risk in its portfolio by diversifying its sources both geographically and through leasing and selling.

On another note, the Kuwaiti company has completed over 25% of the concrete structure works in Mazaya Residence project in Oman after finalising the drilling and foundation operations.

Malhas pointed out that the company aims to deliver 500 residential units during 2017 after delivering 400 units in 2016, estimating the under development projects are valued at KWD 70 million.

Al Mazaya is considered one of the biggest companies in the real estate sector in the GCC with assets worth KWD 242.13 million as at the end of the first half of 2017.

Translated by: Mahmoud El-Zahwey