Supplementary Disclosure About Studying the Strategic Partnership Between the Mazaya Qatar and Al Bandari Real Estate

With reference to the previous announcement in which Mazaya Real Estate Development announced its intention to start studying the possibility of merging with Al Bandari Real Estate, Mazaya would like to inform its shareholders in particular and public investors in general that it have received an offer from Al Bandari related to the merger on January 22, 2020. This offer has been referred to the Board of Directors for their review and to take necessary action, after consulting both the financial and legal advisors of the company. Accordingly, the Board will disclose its recommendation as soon as it is ready, taking into consideration the requirements of the regulatory authorities, including the Qatar Financial Markets Authority and the Qatar Stock Exchange.

The company has previously appointed Al Rayan Investment as a financial advisor, as well as Sharq Law Firm as a legal advisor and other specialized consultants to provide technical support to take appropriate decisions.