Press Release

For immediate release:

Kuwait, 17 April 2012

Al Mazaya Holding has recently announced offering office spaces at its Mazaya1 and Mazaya2 for rent. Strategically situated in the heart of Kuwait Business Town, the two flagship towers were designed and built under the theme “Office at Reach” with the aim to create a professional business environment while providing companies with a unique and stylish working space equipped with the latest technologies.

Speaking on the occasion, Mr. Jassim Al Ghanim, VP Marketing, said: “Al Mazaya’s team has achieved a balanced average rent percentage at the recently launched Mazaya Towers, after the company launched the towers through a program that includes finished spaces in a variety of designs and a selection of spaces starting from 180 square meters to 369 square meters, all with stylish and harmonious interior designs, that reflect the personality of the tenant, at a competitive prices.

One of the most important characteristics of Mazaya Towers is its strategic location in the heart of Kuwait, which is regarded as one of the most active and strategic locations for investors. The site also offers easy access to various main roads into the city center, which will provide tenants with a central hub to the downtown and a route to all the recognized shipping lines.

“More significantly, Al Mazaya Towers are distinguished by their global identity through the state of the art design by renowned international architecture houses and the stunning view on the city and gulf”, Al Ghanim said.

“Al Mazaya Holding has obtained approval from Kuwait Municipality to build multi-level parking spaces to serve tenants and their visitors. The facility is currently under construction and is scheduled for completion soon. Until the parking spaces are completed, the company has temporarily provided each level with 4 free parking slots for visitors. The company, also, provides parking valet service for greater convenience and comfort to tenants and visitors” Al Ghanim added.

Al Mazaya provides the best services for the tenants in terms of cleanliness, maintenance, security, safety and reception, as these issues all combine to ensure a modern, practical and pleasant working environment. He stressed that Al Mazaya is well known for its state of the art architectural designs and its unique and unrivaled management and logistic services.

Speaking of the “Office at Reach” campaign, Al Ghanim stated that after the contractor and consultant finalized construction and operation of equipment, Al Mazaya readied offices for its operations at Mazaya Towers in order to receive tenants, process their work and receive their applications

The new option enables Al Mazaya to lease open spaces, finished, or furnished offices as meets their requirements

Al Ghanim added: “Al Mazaya’s office at the Towers has already been opened for clients and visitors since the contractor finished the examination and ensured all the equipment is running well. “We will introduce potential tenants to “Office at Reach”, showing them the rental options and conditions that will suit their needs and circumstances. This includes a range open spaces or furnished offices, as well as the opportunity to work hand in hand with associate companies to customize the décor and furnishings at competitive prices,” he added

On the other hand, Al Mazaya has offered an interior design service in association with well-known interior designers under the theme “Design Your Own Office”, whereby the company accepts requests for specific and tailored designs.

Al Ghanim said: “Al Mazaya has opened its operation office at its towers located in Kuwait Business Town,” during a press conference that was held in presence of a large number of media representatives. The media gathering was preceded by a familiarization tour of the project”

Al Ghanim clarified that the marketing campaign helped Al Mazaya recognize the clients’ needs and the spaces they require that commensurate with their abilities and volume of business. This allowed Al Mazaya to easily adapt to these requirements and offer a tailor made solutions to clients. He expresses the wish that Al Mazaya will, with the current marketing plan, reach their desired level as soon as possible.

Al Ghanim continued to say that the oversupply of office space in Kuwaiti local market constitutes a big challenge to their leasing plan. This is coupled by the reluctance shown by many firms due to current economic circumstances which discouraged investors to consider any steps until they are certain about the future.

Al Ghanim concluded that the services and prices offered by Al Mazaya are currently among the best in the local market and that companies will bear fruit in the short and long term from their investment in relocating to new offices, as they will benefit from the low rent and high services offered in a highly competitive market.