Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Ezdan Holding plans big investments  Join our daily free Newsletter

MENAFN - The Peninsula - 02/04/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) Ezdan Holding group is diversifying its investment portfolio by making huge investments at least in two Shari'ah-compliant companies listed in Qatar Exchange by June, said Ali Mohammed Al Obaidli, Group CEO of Ezdan Holding company, yesterday.



With over 11,000 housing units at a cost of QR4.5bn set to be completed within three years, the group has also decided to exit from the real estate sector for the next five years, he said. In addition, the group is expected to witness the opening of two big projects - Al Wakra Mall and Shimaal Hotel - before 2014-end. "We have established a partnership with SAK Holding group to build over 11,000 housing units, which will be completed over the next three years in different stages," said Al Obaidli



Al Obaidli was talking to The Peninsula on the sidelines of the company's ordinary general assembly meeting, which ratified the distribution of a cash dividend of 3.1 percent of the nominal value of the group's share to the shareholders.



On the company's decision to exit from the real estate business, he said: "One year ago, our general assembly decided to exit from the sector to invest in Shari'ah-compliant companies listed on Qatar Exchange, and now we are in the process of diversifying our investment portfolio by invesing in such companies.




He added: "Three years ago, we acquired 20 percent stake in an Islamic group, and we are continuing to focus on that line. Before the end of this June, we are going to announce the names of two more Shari'ah-compliant companies where we are intending to make investments.



Asked if the group has plans for overseas investments, Obaidli said: "It's a red-line for us. We are focusing in the local market as there are a lot of opportunities of investments within Qatar.



Ezdan Holding posted a full-year net profit of QR1.07bn in 2013, up nearly 290 percent compared to QR275m in 2012.



Earlier, addressing the shareholders, Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman of Ezdan Holding, said: "We have witnessed, in 2013, extraordinary performance as far as Ezdan Holding Group is concerned, and we were able to make significant accomplishments throughout our history, the fact that clearly reflects the success of our plans to take advantage of growth opportunities in the Qatari market and pursue our quest to consolidate our mission to reduce risks at much as possible, in addition to providing a motivating work atmosphere and follow the development plans in the state, as well as commitment to social responsibility and the governing laws."

 


The Peninsula




  MENA News Headlines
 Dec 4 2016 - First Bloomberg Markets Most Influential Summit Abu Dhabi to Convene the Leaders and Innovators in Finance Shaping the Future of InvestingMENAFN Press
(MENAFN Press) The Bloomberg Markets Most Influential Summit will make its Middle Eastern debut in Abu Dhabi this week, convening global financial leaders and investors who are moving markets, ...

 Dec 4 2016 - Farid Chedid Chairman and CEO of Chedid Re named ‘MEA Industry Achiever of the Year’ at the 2016 MEA Risk & Insurance Excellence AwardsMENAFN Press
(MENAFN Press) Beirut, Lebanon, December 4, 2016 : (ME NewsWire) During a special honoring ceremony held at the Four Seasons Hotel in Dubai, the publishers of Global Reinsurance and StrategicRISK ...

 Dec 4 2016 - Saudi, Qatari, UAE, Turkish Joint Statement on Calling to Hold UN General Assembly Formal Plenary Session on Syria 3 United NationsSaudi Press Agency
(MENAFN - Saudi Press Agency) The statement added that "We have seen in recent weeks, the launching of heavy unleashed military aggression against Aleppo and its neighboring areas with severe ...

 Dec 4 2016 - Saudi- Kingdom succeeds in shrimp farming: Global Magazine saysSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 05 Rabi'I, 1438,December 04, 2016, SPA -- Global Aquaculture Advocate magazine confirmed in its latest issue in a report entitled "Kingdom of Saudi Arabia ...

 Dec 4 2016 -  Vietnamese floods kill 13Saudi Press Agency
(MENAFN - Saudi Press Agency) Hanoi, Rabi'I 5, 1438, Dec 4, 2016, SPA -- At least 13 people have been reported dead in central Vietnam's most recent spate of floodings, according to dpa. The ...

 Dec 4 2016 - Saudi Ambassador to Egypt: Kingdom Tops World in Supporting Refugees 2 CairoSaudi Press Agency
(MENAFN - Saudi Press Agency) Ambassador Qattan also said that the Kingdom considered the brotherly Yemeni refugees on its territory as its visitors, and provided more than half a million Yemeni a ...

 Dec 4 2016 - Al Watan Daily Highlights Depth of Fraternal Relations between Qatar and Saudi ArabiaQatar News Agency
(MENAFN - Qatar News Agency) Doha, December 04 (QNA) - Qatari daily (Al Watan) confirmed in its editorial Sunday the depth of the fraternal relations and cooperation between the State of Qatar and ...

 Dec 4 2016 - Nepalese Foreign Minister Meets Qatar's AmbassadorQatar News Agency
(MENAFN - Qatar News Agency) Kathmandu, December 04 (QNA) - Foreign Minister of the Federal Democratic Republic of Nepal Dr. Prakash Sharan Mahat has met with HE Qatar's Ambassador to Nepal Yousef ...

 Dec 4 2016 -  South Korea, US Seek Ways to Counter North Korea's Submarine-Launched Ballistic threatQatar News Agency
(MENAFN - Qatar News Agency) Seoul, December 04 (QNA) - South Korea and US forces are stepping up efforts to better counter the growing threat from North Korea's submarine-launched ballistic missiles ...

 Dec 4 2016 -  Five Gunmen, Including ISIS Leader, Killed in DagestanQatar News Agency
(MENAFN - Qatar News Agency) Moscow, December 04 (QNA) - Five militants, including an ISIS leader, have been killed during a special operation held in a suburb of Makhachkala, the capital of Russia's ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help