The Chairman of Ezdan Holding Sheikh Dr Khalid bin Thani bin Abdullah Al Thani and other board members during the annual general meeting at Ezdan Towers in Doha yesterday. Kammutty VP
BY MOHAMMAD SHOEB
DOHA: Ezdan Holding Group, a leading real estate development company in the region, plans to construct 10 new residential complexes, most of them in Al Wakra.
The Group CEO of Ezdan Holding, Ali Al Obaidli, while speaking to The Peninsula on the sidelines of the company’s annual general meeting, said that the company was set to open its ‘Ezdan Mall’ at Gharafa on Sunday.
All the proposed new villages put together will offer over 5,000 two- and three-bedroom apartments. Of these, nine villages will be located in Al Wakra while the remaining one will be built in the north of Doha.
“Under the residential section of the Group, we are going to build 10 new villages for limited income people. There will be over 5,000 housing units all consisting of two- and three-bedroom apartments,” said Obaidli.
He added that other two malls located at Al Wakra and Wukair have been scheduled for opening on February 1, 2014 and January 1, 2015.
The company has three towers under-construction located at West Bay, Doha’s skyline, such as Abdul Wahab Tower and Asia Tower, which are expected to be completed by the end of second quarter of this year. About the future of the real estate market in Qatar, he said: “The market has already shown signs of recovery. And it is going to witness another real estate boom which will continue for sometime, especially the land prices.
Ezdan Holding Group yesterday held its Annual General Meeting at La Perla, Ezdan Tower-1 and approved the distribution of 1.3 percent cash dividend, at the rate of 13 dirhams per share which was recommended by the company’s Boar of Directors.
The Group’s audited net profit stood at QR408.7m for the financial year ended December 31, 2012, an increase by 18.32 percent over the figure of QR345.4m achieved in 2011.
The Chairman of Ezdan Holding Sheikh Dr Khalid bin Thani bin Abdullah Al Thani in his speech before the General Assembly said that the Group has witnessed a remarkable performance, and its’ net profit has increased by 18 percent to QR408m in 2012 compared to QR345m in 2011.
He added that the group will continue to strive and move ahead in achieving its vision inline with Qatar’s National Vision and development strategy of the country to meet the growing demand of the real estate market.
The Peninsula
