Manazel PJSC

Manazel PJSC, a UAE-based real estate development company, has appointed investment bank Houlihan Lokey as its financial advisor for a capital optimization plan. The plan includes strategies such as capital raise, corporate reorganization, and sale of non-core assets. Houlihan Lokey will assist Manazel's leadership team to optimize the company's capital structure and identify new investment opportunities. This move is part of Manazel's efforts to strengthen its financial position and promote sustainable growth.

Resolution No. 375 of 2024 concerns the temporary suspension of trading on the shares of Manazel PJSC. The decision is made in accordance with Article No. 16 of the Regulations concerning the Listing of Securities on ADX. The suspension is due to Manazel PJSC's AGM being held at 10:00 on the 23-May-2024, which coincides with the trading session at ADX. Therefore, trading in Manazel shares will be suspended from 09:00 on 23-May-2024 until ADX receives the AGM results. All heads of departments in ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 25/04/2024.

The company "Manazil" announces updates after the opening of the first Chinese market in Abu Dhabi, located in Mohammed bin Zayed City in Capital Mall (Chinese Market Capital Mall). The leading developer in Abu Dhabi provides updates on the commercial project in the development of the commercial and shopping market in Abu Dhabi, the capital of the United Arab Emirates. The Chinese Market - Capital Mall, which opened in 2023, is 95% complete and is expected to increase by 250% with the completion of the project. The mall includes various facilities and services to meet the demand of the public.

The company "Manazel" has launched updates on the progress of construction work in Merzab residential complex project, located in Al Samha city. The leading developer in Abu Dhabi provides details about the construction progress in the Merzab project. The development of the Merzab complex project has begun steadily, with the contractor starting infrastructure work and completing 30% of these works. The Merzab project is one of the latest projects of Manazel Company, located in the eastern region of Al Samha, near the Reef 2 project, on a prime location on the Abu Dhabi-Dubai road and near Khalifa Industrial City (KIZAD). The total building area is 83,138 square meters on a land plot of 106,318 square meters. The project consists of 19 multi-use buildings of three floors (G+3) with a mosque. The project will include 739 residential units, including studios, one-bedroom, two-bedroom, and three-bedroom apartments, in addition to commercial shops and retail spaces located on the ground floor of the buildings with different areas, ensuring residents' needs are met.

The text contains the Board of Directors' report and consolidated financial statements of Manazel PJSC as of December 31, 2023.