Kuwait-Mubasher: Al Mazaya Holding has offered investment assets worth KWD 25 million ($82.5 million) to its subsidiary First Dubai for Real Estate Development, according to a bourse filing.
The company noted that these assets include stakes and shares in real estate companies which own income-generating assets in Kuwait and Saudi Arabia.
Al Mazaya said that no financial impact will be registered if the deal is sealed, yet, an increase in the non-controlling interest of the concerned subsidiaries will occur.
Meanwhile, First Dubai clarified that the deal will generate an increase in real estate and investment consolidated assets as well as a raise in the operating revenues.
