Mazaya Real Estate Development Company announces the exit from the Marina project and the return of the land to Qatar Foundation


With reference to the annual report of Mazaya Real Estate Development Company for the year 2021, and what was specifically mentioned in the report of the Board of Directors regarding the Marina project, Mazaya Real Estate Development Company during the previous period with "Qatar Foundation" reviewed the terms of the contract concluded with them under the (BOT) system and searched for ways to change the activity of the project to suit the developments and changes in the market, but we did not reach an agreement commensurate with the two parties, so Mazaya decided, in agreement with Qatar Foundation, to exit the project and return the land to Qatar Foundation.


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