Quotes: US 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 investing 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
 Sep 17 2014 - Kuwait Stock Exchange Closes on Green NoteQatar News Agency
(MENAFN - QNA) Main indices of the Kuwait Stock Exchange ended trading Wednesday in the green zone with the weighted, the price, and the KSX 15 indices up by 1.39, 14.07, and 5.63 points ...

 Sep 17 2014 - HE Assistant FM Receives Copy of Vietnamese Ambassador's CredentialsQatar News Agency
(MENAFN - QNA) HE Assistant Foreign Minister for Foreign Affairs Mohammed bin Abdullah Al Rumaihi on Wednesday received a copy of the credentials of Nguyen Hoang as ambassador of the Socialist ...

 Sep 17 2014 - HE Prime Minister Meets Chubu Electric Power ChairmanQatar News Agency
(MENAFN - QNA) HE Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani on Wednesday met with Toshio Mita, chairman of Chubu Electric Power company on the occasion of ...

 Sep 17 2014 - Italian President Receives Message from Kuwait's EmirQatar News Agency
(MENAFN - QNA) Italian President Giorgio Napolitano received a message from Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah pertaining to bilateral relations between the two ...

 Sep 17 2014 - US Vice President Ukrainian Prime Minister Discuss Minsk AgreementQatar News Agency
(MENAFN - Qatar News Agency) Moscow September 17 (QNA) - Russia and eastern Ukrainian independence fighters should fully observe provisions of the Minsk ceasefire agreement US Vice President Joe ...

 Sep 17 2014 - HE Minister of Culture Arts and Heritage Meets US AmbassadorQatar News Agency
(MENAFN - Qatar News Agency) Doha September 15 (QNA) - HE the Minister of Culture Arts and Heritage Dr. Hamad bin Abdulaziz Al Kuwari met here Monday with HE US Ambassador to Qatar Dana Shell Smith. ...

 Sep 17 2014 - 52 Taliban Militants Killed During CounterTerrorism OperationsQatar News Agency
(MENAFN - Qatar News Agency) Kabul September 15 (QNA) - At least 52 Taliban militants were killed following joint clearing operations by Afghan national security forces in various provinces of the ...

 Sep 17 2014 - One Policeman Killed Two Injured in Pakistan's militant attackQatar News Agency
(MENAFN - Qatar News Agency) Islamabad September 15 (QNA) - A policeman was killed and two others sustained injuries when unknown militants launched an attack on Tal Police Station on Monday morning. ...

 Sep 17 2014 - US Drone Strike Kills Seven on PakAfghan BorderQatar News Agency
(MENAFN - Qatar News Agency) Islamabad September 14 (QNA) - Seven suspected militants including two key commanders of Badr Mansoor group have been killed in a US drone strike according to Pakistan ...

 Sep 17 2014 - ISIS United Iraq Country's Deputy Prime Minister SaysQatar News Agency
(MENAFN - Qatar News Agency) Baghdad September 14 (QNA) - Iraq's Deputy Prime Minister Hoshyar Zebari said Sunday that ISIS organization has united the country rather than divide it. He said that ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help