Press Release

Linking and electricity tests complete Al Mazaya Holding Co. has announced that preparation for the grand opening of its 7 Zones project in Kuwait, which will take place in March, is nearing completion, and that it has obtained all the necessary approvals and installed electricity in the project. The company, together with the investors and leasers, agreed to launch 7 Zones in March 2010 while completing other details set out during the project’s initial design. Several store owners have already began decorating and furnishing their stores and moving in their goods in preparation for the grand opening. Says Eng. Salwa Malhas, Executive Vice President at Al Mazaya Holding: “Despite the global economic downturn that has halted numerous projects, we decided to continue with the development of our projects, including 7 Zones, which was completed in May last year and only needed approvals, although these did take some time to obtain.” “After extensive consultation with the traders, investors and leasers, we decided that 7 Zones will be launched in one phase, culminating with a celebration that will include investors, traders and Al Mazaya, since 7 Zones is the first project of its kind in the region, and numerous similar projects based on this same model will be built in the GCC region,” she added. Malhas went on to say that the electricity-related approvals took some time to obtain, but that Al Mazaya has now completed the electricity linking procedures and related tests. “We fully expect 7 Zones to attract a lot of attention over the next few months due to the completion of construction and technical works, the project’s strategic location in Kuwait’s Al Shuwaikh Industrial Zone, and the high quality of products it will offer, as all goods in the project have been carefully selected to ensure that best quality products are offered and customer satisfaction is achieved.” 7 Zones has managed to attract some of the biggest names in the construction field, and Al Mazaya is currently negotiating with several companies looking to join the 7 Zones franchise, with some negotiations entering final stages. Malhas stated that for Al Mazaya, 7 Zones is more than just a real estate development project; it is one of the company’s most profitable projects in which Al Mazaya is looking to invest long term. Al Mazaya has prepared a full-scale marketing plan which will ensure that the project is constantly invigorated, including exhibitions for creative individuals through the Kuwait Creative Zone. In addition, investors and traders from both within and outside the project will be able to set up their own activities through the multi-purpose hall included in the project. Investors will also be able to make use of various of the project’s marketing tools to promote their products both within and outside 7 Zones by accessing the latest marketing technologies, including electronic and normal advertisement boards, the 7 Zones annual magazine, and other advanced marketing tools. 7 Zones is located in the Al Shuwaikh Industrial Area, one of the most popular districts in Kuwait, distinguished for its proximity to the country’s capital, Al Shuwaikh port and the Free Trade Zone. Covering an area of 22,500 square metres, 7 Zones is intended to close the gaps between different areas in the property sector through providing quality services such as parking, construction materials, offices, exhibition areas, storage, a specialized department for internal and external décor, and offices for investors and contractors to cater for the needs of their target markets.