Al-Mazaya Holding Company, a real investment firm listed on Kuwait’s stock market, said on Thursday the Capital Market Authority (CMA) in the Gulf country has approved its acquisition of First Dubai Real Estate Development Company.

“We would like to inform you that the Capital Market Authority issued the approval to execute the merger by amalgamation between Al-Mazaya and First Dubai Real Estate Development Company,” it said in a bourse statement.

In 2023, Al-Mazaya said the acquisition of that firm, which is also listed on the Kuwaiti bourse, would be approved by the shareholders of the two companies.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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