Markaz Executes KD 64.12 Million Voluntary Acquisition Offer for Boodai Reliance Real Estate in Jazeera Airways
Kuwait City, Kuwait – February 15, 2026 – Kuwait Financial Centre ‘Markaz’ announced the successful execution of a KD 64.12 million Voluntary Acquisition Offer (VAO) on behalf of Boodai Reliance Real Estate Company W.L.L. to acquire additional shares in Jazeera Airways K.S.C.P. The transaction increases Boodai Reliance’s stake by 16.65% to 72.26%, reinforcing its strategic control of the Kuwaiti low-cost carrier.
Transaction Details
Under the VAO, Boodai Reliance acquired 36.64 million shares at KD 1.750 per share. Markaz served as Acquisition Manager, handling structuring, shareholder engagement, regulatory coordination with the Capital Markets Authority (CMA), and settlement. The deal follows regulatory approval earlier in 2026 for the 16.65% stake acquisition valued at approximately $209 million.
Stakeholder Perspectives
“We are pleased to have successfully executed this high-profile transaction for Boodai Reliance Real Estate Company, strengthening its strategic position in Jazeera Airways. This accomplishment reflects our ability to navigate the complexities of capital markets, adhere to regulatory requirements, and protect the interests of shareholders while achieving our client’s investment objectives. It is also a testament to the depth of expertise within our investment banking teams and further cements our position as a trusted partner for clients seeking to build and consolidate meaningful positions in Kuwait’s listed companies.”
— Ali Khalil, Chief Executive Officer at Markaz
Why it matters: This underscores Markaz’s expertise in facilitating high-value equity stakes on Boursa Kuwait’s public markets.
“This strategic acquisition represents a significant step in consolidating our long-term investment in Jazeera Airways. Our increased stake reflects our conviction in the company’s long-term fundamentals and growth trajectory. Executing a transaction of this scale in the public markets requires a partner that understands not only regulation, but also market dynamics and stakeholder expectations. Markaz provided the structure, clarity, and execution discipline needed to complete the process efficiently and responsibly, allowing us to advance our strategic objectives with confidence.”
— Mishaal Al-Usaimi, Group Chief Executive Officer at BoodaiCorp
Why it matters: The statement signals Boodai’s commitment to Jazeera Airways amid regional aviation recovery.
Industry Context
Jazeera Airways, a key Kuwaiti low-cost carrier, reported doubled full-year profits and plans fleet expansion with three new aircraft in 2026. This consolidation strengthens Kuwaiti ownership in aviation, potentially enhancing operational stability in a competitive MENA market dominated by Gulf hubs including Dubai, Abu Dhabi, and Doha.
Looking Ahead
Boodai’s majority stake positions Jazeera Airways for accelerated growth, while Markaz bolsters its investment banking franchise serving family offices and institutions across the GCC.
Sources: Zawya, Trade Arabia, ch-aviation, FlightGlobal
