Al Mazaya’s 2013 profits surge to KD6m

March 20, 2014 1:37 pm

Kuwait’s Al Mazaya Holding Co has said its 2013 net income rose to KD6m from KD291,000 in the previous year, with total revenues of KD26m, Kuna has reported. The surge in yearly net profit was due to the reassessment of investment property prices, which have remarkably edged up following recovery from the global financial crisis, especially in Dubai, the developer said. Total assets rose to KD228m last year, compared with KD221m in 2012.