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4-Traders Homepage  >  Equities  >  KUWAIT STOCK EXCHANGE  >  Al Mazaya Holding Company KSCP    MAZA   KW0EQ0401764

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Al Mazaya KSCP : Kuwaiti designers named to work on Mazaya Downtown

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11/10/2017 | 01:55pm CET

Kuwaiti design specialist, PACE, has been picked to provide final design and architectural licensing services for a project being developed by Al Mazaya Holding.

Located in Al Sharq area, the Mazaya Downtown project's initial concept design was completed by Gensler, an international design and consulting firm.

A listing on Al Mazaya Holding's website showed that the project's plot spans an area of 2,903m2.

READ: Kuwait-owned Al Mazaya posts $23m net profit in Q3 2017

PACE's scope of works for the project included the arrangement of construction licenses from state departments.

Al Mazaya Holding revealed these details as part of its financial disclosures for the third quarter of 2017.

The developer's rental revenues amounted to $18.5m (KWD5.60m) in Q3 2017, 3.26% higher than rental revenues worth $18m (KWD5.42m) in Q3 2016.

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As part of these documents, Al Mazaya Holding also revealed that it has been pre-qualified with five companies for a labour camp project in South Jahra.

Kuwait Authority for Partnership Projects (KAPP) signed a contract between with a group of companies from the private sector, in collaboration with the Kuwait Municipality.

These firms would provide special advisory for the South Al-Jahra Labour City project, which had an area exceeding 10ha, with a capacity for 20, 000 workers.

The duration of the project was estimated to be 40 years, of which three years would be earmarked for design and construction.

Al Mazaya revealed that the project would be delivered according to the build-operate-transfer model.

(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Number of Analysts 1
Average target price 0,15  KWD
Spread / Average Target 38%
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