{"id":3414,"date":"2016-02-02T19:24:07","date_gmt":"2016-02-02T12:24:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=3414"},"modified":"2016-02-02T16:36:54","modified_gmt":"2016-02-02T09:36:54","slug":"dubai-listed-developer-al-mazaya-aims-for-double-digit-growth-through-2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-listed-developer-al-mazaya-aims-for-double-digit-growth-through-2020\/","title":{"rendered":"Dubai-listed developer Al Mazaya aims for double-digit growth through 2020"},"content":{"rendered":"


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\nAl Mazaya Holdings is targeting growth in annual net profit of a 10 per cent through 2020, as the Kuwait-based property developer expands its projects in the Arabian Gulf and Turkey, its chief executive said on Tuesday.Al Mazaya, which is listed in Dubai and Kuwait, posted a 15.2 per cent increase in full year net profit for 2015 attributable to equity holders, reaching 9.3 million Kuwaiti dinars, up from 8m dinars a year earlier.
\nAl Mazaya’s fourth quarter net profit rose 7 per cent to 2.5m dinars from 2.4m dinars in the year-earlier period as it boosted sales of its projects in Dubailand and the fair value of its investment properties rose. Total operating revenue reached 20.8m dinars in the fourth quarter, up from 1.36m dinars the previous year, beating forecasts from Kuw\u00adait’s NBK Capital.The company is focusing this year on nine major projects spread across Oman, Kuwait, UAE and Turkey, said Ibrahim Al Soqabi, the group chief executive.
\nWith regard to its debt, the property developer said converted all its borrowings into Sharia-compliant financing last year as part of a five year debt plan.”Al Mazaya’s current borrowing stands at 81m dinars,” said Mr Al Soqabi. “This is subject to change depending on new projects. However, the group currently has no immediate plans to increase its borrowing.”dalsaadi@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai-listed developer Al Mazaya aims for double-digit growth through 2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Al Mazaya Holdings is targeting growth in annual net profit of a 10 per...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-3414","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-T4","jetpack-related-posts":[{"id":3215,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-and-rent-increases-lift-al-mazaya-profit\/","url_meta":{"origin":3414,"position":0},"title":"Sales and rent increases lift Al Mazaya profit","date":"February 1, 2016","format":false,"excerpt":"\r \r Al Mazaya Holding's fourth-\u00adquarter net profit rose 7 per cent as the Kuwaiti property developer boosted sales of its projects in Dubailand and the fair value of its investment properties rose.Net profit in the three months to December 31 rose to 2.5 million Kuwaiti dinars (Dh30.2m) from 2.4m\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15534,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-to-slow-in-saudi-arabias-eastern-province-but-pick-up-in-bahrain\/","url_meta":{"origin":3414,"position":1},"title":"Development to slow in Saudi Arabia's Eastern Province but pick up in Bahrain","date":"June 5, 2016","format":false,"excerpt":"\r Development projects in Saudi Arabia's Eastern Province look set to slow as the market nears the peak of its current cycle, according to a new study. JLL's inaugural report on the Damman Metropolitan Area (DMA) says potential project delays and lower completion rates are more likely to happen as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4319,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-reports-full-year-gains-despite-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":3414,"position":2},"title":"Emaar reports full-year gains despite The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4321,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-earnings-hit-by-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":3414,"position":3},"title":"Emaar earnings hit by The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":3414,"position":4},"title":"Emaar residential launches lift profit amid 'positive economy'","date":"May 14, 2017","format":false,"excerpt":"\r A spike in the value of sales of new residential property in Dubai helped lift first-quarter profit for developer Emaar amid what its chairman calls a positive economic environment in the emirate. The developer said that its preliminary net profit for the first three months was 15 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44123,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/signs-of-momentum-for-dubai-property-sector\/","url_meta":{"origin":3414,"position":5},"title":"Signs of momentum for Dubai property sector","date":"February 15, 2017","format":false,"excerpt":"\r Two of Dubai's largest property developers reported on Tuesday a boost in fourth-quarter net profit, prompting further hopes of a Dubai market recovery.Burj Khalifa developer Emaar Properties said net profit for the three months to the end of December 2016 increased by 56 per cent, climbing to Dh1.61 billion\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/3414"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=3414"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/3414\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=3414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=3414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=3414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}