Al-Mazaya Holding Company, a real investment firm listed on Kuwait’s stock market, said on Wednesday it has completed the acquisition of First Dubai Real Estate Development Company.

The company said in a bourse statement that the acquisition resulted in an increase in the Company’s paid-up capital by around 4 million Kuwaiti dinars ($13.2 million) to nearly KWD52.55 million ($173.4 million).

In 2023, Al-Mazaya revealed plans to acquire First Dubai, which is also listed on the Kuwaiti bourse, and said the procedure would be endorsed by the Shareholders.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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