Qatar Real Estate News
Leading developer to sell property portfolio for funding new projects
One of the largest property developers in Qatar, the Ezdan Real Estate Company, revealed that it plans to sell few of its real estate portfolio, aiming to raise funds for billion-dollar projects during the next five years.
The Deputy Chief Executive Officer of Ezdan, Samer Wahbeh, said that the company, which in compliance with Islamic Law, will build schools, residential units, hotels and hospitals in Qatar.
Wahbeh confirmed that Ezdan is quite optimistic about Qatar real estate market, and has aggressive expansion plans, intended to fuel the growth of the company.
During the first quarter this year, the net profit of Ezdan nearly doubled, and is hoped to gain 98mn riyals during the second quarter. During the year 2008, the company reported a net year profit of 1.4billion riyals for a full year.
Posted on 6/6/2009