Press Release
Access. Work. Achieve.
Al Mazaya Holding has received the “Top Real Estate Company Award”, presented by Tamweel PJSC, the UAE’s leading provider of real estate finance, during a gala dinner held at the Jumeirah Beach Hotel, last week.
The event was hosted by H.H Sheikh Khaled Bin Zayed Bin Saqr Al Nahayan, Chairman of Tamweel, and attended by dignitaries, property developers, real estate agents, and financial industry officials and media representatives.
Al Mazaya Holding was recognized as the “Top Real Estate Company of the Year” for its innovative concepts and products that meet the changing needs of the market. Eng. Khalid Esbaitah, Executive Manager and CEO of Al Mazaya Holding, received the award on behalf of the company.
The out of the box thinking of Al Mazaya has generated first of its kind developments such as housing projects for middle income groups. Other unique initiatives include the launching of “Al Mazaya Property Index”, a one of its kind index that monitors the performance, movement and development of the real estate market. Furthermore the company has successfully managed a number of real estate portfolios, launched property funds to invest in the GCC property market, adopted an acquisition policy to buy property companies, and has achieved the ISO 9001/2000 certificate for its commitment to the highest international quality standards, in addition to many other significant achievements.
This is the second award of its kind during this year, as the award winning company has already won the “Top Real Estate Company of the Year” award, by Arabian Business Magazine, last March.
Commenting on the award, Eng. Khalid Esbaitah said: “We are thrilled to receive the Best Property Company Award for 2007, from Tamweel, the leading property financer. This award is a new addition to the series of successes the company has made and comes as a result of years of dedicated work to achieve a level of excellence and prominence in a highly competitive real estate market. Al Mazaya Holding has managed to surpass its counterparts and set new benchmarks of performance and quality in a way that makes the creative developer qualified to receive such a prestigious honor.
“Al Mazaya Holding has been poised for a rapid and balanced growth in a relatively short span of time, on the foundation of the insightful strategies the ambitious company has adopted with the aim to achieve a substantial regional and international expansion. Al Mazaya’s projects are extending across Kuwait, UAE and a number of other Arab countries, with more in the pipeline. All of our projects are based on extensive studies which assessed the feasibility and benefit from such investments. The company has provided other valuable property products by joining force with strategic partners such as, Tamweel, the largest property finance provider.”
Esbaitah emphasized on the importance of Queue Point as a project that has been launched to meet the increasingly urgent need for property by middle income users: “Queue Point is one of the most significant projects for Al Mazaya Holding, not because it is a unique development in terms of size and location, nor for the high sales revenue that has marked the project since it was launched on the market, but because it embodies a creative concept in the market, targeting the middle income bracket with luxury property offerings – this is an initiative that was introduced in the market for the first time since the beginning of the real estate development boom. Consequently, more than 2000 residential units from phase 1&2 were sold out at over AED 800 million. Overwhelming demand for the investment in this project has generated figures that prove the resounding success of such a mega project. Offering affordable prices and convenient financing instruments provided by Tamweel, Queue Point is a very unique and attractive investment opportunity”, he said.
Eng. Esbaitah explained that contractors were invited to bid for the constructional works and subsequently the Dhs 2 billion project was under progress. Situated at Al Liwan in Dubai Land, the Queue Point project features contemporary architecture that combines functionality with aesthetics. It will include multi-use buildings varying between residential and commercial, that all benefit from its strategic location near the Emirates Road at the intersection of Al Ain Road.
In conclusion, Esbaitah reiterated the company’s willingness to create value in all its projects in a bid to maintain the position it has reached as one of the heavyweights in the GCC property development field: “We will carry on planning and selecting our projects very carefully, and will spare no effort to fulfill our plans and execute our projects in a way that will enhance our leading position in a challenging and competitive industry. We will strive to maintain our brilliant brand name and position as the most favorable choice for all who seek quality and luxurious property units”.
About AL MAZAYA:
Al Mazaya Real Estate Development Co., listed on the Kuwait Stock Exchange and Dubai Financial Market, created a distinctive place for itself in the economic sector through the implementation of several major and vital projects across the region. The company provides comprehensive real estate services and products across various fields, including housing projects that include high class and deluxe villas, vertical flats and accommodation buildings, office buildings and the purchase and apportionment of large spaces in selected areas. The company’s record includes a number of outstanding projects. In Kuwait, this consists of, (among others): Al Maha Villas, MAZAYA Villas, Al Roya, The View Point, 7 Zones, and Kuwait Business Town. In Dubai, its projects include The Villa, Dubai Healthcare City, The Icon, Sky Gardens, Towers at Business Bay and Al Liwa. In
