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FINANCIAL NEWS
Al Mazaya pays USD49.2m in provisions
02 Apr 2011
(MENAFN) UAE’s Al Mazaya Holding stated that it made provisions worth more than USD49.2 million after customers who bought homes in Dubailand did not commit to their payments, reported the National.
In addition, the company stated that losses in 2010 amounted to USD30.6 million.
As Al Mazaya invested heavily in Dubailand, the company’s losses were mainly driven by the failing of the development to attract sufficient investment.
It is worth noting that developers all over the UAE suffered from losses as they ran out of cash and as customers failed to pay.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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