Press Release

Kuwait, 22 December 2009

• 1,00 metre-tall Clover Clinic is highest tower in Al Jabiriya, Kuwait

• Al Mazaya to deliver Clover Clinic in Q1 2010

• Huge returns expected to be added to 2010 budget

• Al Mazaya seeks license for specialized medical center

• Clover Clinic open for lease for Kuwaiti and non-Kuwaiti Doctors

• Al Mazaya to hold open day for medical experts to tour project site

Al Mazaya is getting ready to launch its latest new architectural masterpiece, a thriving project in Al Jabiriya District in Kuwait – Clover Clinic. Upon completion, the 1,00-metre high Clover Clinic project, which is the company’s first investment in the healthcare sector, will be the tallest tower in the district and the first purpose-built medical facility in Kuwait, setting new standards in real estate development.

Eighty-seven percent of the construction work on Clover Clinic has been completed, and a large part of the finishing process in the project’s clinics and amenities, which extend over an area of 4,000 square meters, has also been completed. Delivery of the project is set for Q1 2010.

Al Mazaya is also planning to hold a Clover Clinic open day, where they will invite medical experts to come and take a look at the project features, construction work and amenities, including the X-ray center, the pharmacy and the Boutique Clinic floor, which Al Mazaya has made a series of agreements to provide.

Eng. Salwa Malhas, Executive Vice President of Al Mazaya Holding, said of the project: “Al Mazaya aims to manage Clover Clinic in cooperation with experts in running medical projects, and because we want the best for the project, we have made agreements with international companies to complete the finishing of the project’s clinics, rather than leaving that for the doctors to do. In addition, specialized medical buildings are equipped with the latest technologies and staff with vast medical experience will be selected to manage these buildings. As well as clinics of various sizes catering for the different needs of medical experts, Clover Clinics also features an X-ray center, a state-of-the-art pharmacy and the Boutique Clinic, which is concerned with aesthetic medical practices, complete with separate entrances, offering complete privacy for visitors”.

Al Mazaya is currently seeking a licence to open up a specialized medical center to expand its base of Kuwaiti and non-Kuwaiti doctors. The company has also decided to add a floor dedicated to same-day surgery, dentistry, dermatology, laser surgery and internal diseases, etc.

Clover Clinic will also offer medical specializations new to Kuwait, including a fully-equipped clinic specialized in sleep disorders, a live lab with direct access to worldwide laboratories to get results as fast as possible, and a wellness center for periodic check-ups, early diagnosis of diseases, diagnosis of genetic defects which may cause illness in the future, treating obesity problems, and treating external health problems, such as hair, skin, finger nails, etc.

Malhas added: “Clover Clinic is one of the most important projects in Kuwait right now, as the project fulfils the need for medical projects in light of the advances being made in the healthcare sector in neighbouring countries and Arab countries as a whole. The project is also important to Al Mazaya since it is one of the company’s more profitable projects, and is expected to reap high returns in Q3 2010, which will be added to 2010 budget”.

Clover Clinic consists of 19 floors, each 600 square meters, and clinics of 200, 300 and 600 square meters, with an additional 7-storey building earmarked for ‘Boutique Clinic’ services, with 130 square meters for each floor, as well as medical laboratories, an x-ray laboratory, a physical therapy centre, a specialized pharmacy located on the ground floor, and a basement that holds 200 cars. Clover Clinic will also provide a number of services for visitors, including parking lots and cafes. Al Mazaya has signed a contract to develop the Clover Clinic complex with the BOT system.

Clover Clinic is expected to have a total cost of KD 7 million, with returns of 15-20 percent.