Dubai Group Buys Into Mazaya Saudi

September 2008 | M&A News Alert

On September 14 Dubai Group announced that it has become a founding shareholder in Mazaya Saudi. The group purchased a 20% stake in the Saudi Arabia-based real estate developer via its subsidiary Dubai Capital Group for around AED500mn (US$135mn). As a founding shareholder, Dubai Group will be represented on the company's board and be a part of its development. Mazaya Saudi will be managed by Al Mazaya Holding KSCC, the developer headquartered in Kuwait, which has properties in Dubai, Abu Dhabi, Bahrain, Qatar and Oman. The new company will be headquartered in Riyadh and will target the middle and high

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