01:42 AM EDT, 09/25/2026 (MT Newswires) -- Al Mazaya Holding Co (DFM:MAZAYA) said Thursday that Kuwait's Capital Markets Authority approved its capital increase related to its planned merger with Waterfront Real Estate Co. The Dubai-listed real estate developer will increase its share capital to 53.4 million Kuwaiti dinars from 52.6 million dinars by issuing 8,561,033 shares to Waterfront Real Estate shareholders. For each Waterfront Real Estate share held, the shareholders will receive 0.6917566 share of Al Mazaya.

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