Mazaya Real Estate Development Q.P.S.C. discloses the judgment in the lawsuit no 2024700027 .

Mazaya Real Estate Development Q.P.S.C. discloses the issuance of the Court of Appeal judgment No. 700027/2024 in the case brought by Sinohydro Corporation Limited ("Sinohydro") against Mazaya on 25/6/2024.

This case relates to one of the company's projects developed in 2012 and completed in 2018. The dispute with the project's main contractor began in court in 2019. The Court of Appeal ruled that Mazaya must compensate Sinohydro an additional amount of QAR 85,871,005.6.
As this ruling is not final and can be appealed, the company has instructed the external law firm to file an appeal with the Court of Cassation.

Note: if the Court of Cassation upholds the Court of Appeal's ruling, this will have a negative impact on this year's financial results. However, the company has made cash reserves that will allow it to continue all future projects and meet all its financial obligations.

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