Ezdan Holding to sell five Residential Properties…

Real estate giant, Ezdan Holding Group, as part of a long-term strategy to diversify its investment portfolio, yesterday announced its plans to sell five residential villages, comprising 2,660 housing units, during Cityscape 2014, which is opening today at Qatar National Convention Centre.

Ali Al Obaidli, Group CEO of Ezdan Holding, said: “The Group plans to sell five residential villages during this year, including the villages (3, 7, 8, 11, 36). These villages comprise about 2,660 housing units in addition to other services and facilities such as mosques, sports courts, health clubs, gyms, nurseries, parking lots, children playgrounds, among others.

Obaidli also said that negotiations are currently underway with several investors, saying that no clear result has been achieved yet. He stressed that he is confident that sales operations will be complete before the end of the current year, in line with the Group’s strategy to exit all its real estate projects during five years starting April 2013 as per Ezdan’s General Assembly decision.

The CEO noted that all residential villages offered for sale enjoy up to 97 percent occupancy, in addition to the wide range of services and facilities they offer to their tenants for the first time, when it comes to a real estate company.

The three-day exhibition, held under the patronage of Ezdan Holding Group, is organised with the participation of a range of major real estate companies in Qatar and the region.

In this context, Ezdan Holding Group is keen to consult and communicate with all investors on the sidelines of the exhibition through a distinct stand of 500 square metres area.

Sheikh Dr Khaled bin Thani bin Abdullah Al Thani, Chairman of Ezdan Holding Group, had said earlier that the acquisitions and sales of the group came as the result of a thorough study of the financial situation of many of the companies listed on Qatar’s stock market, noting that these companies are selected carefully for acquisition and in accordance with specific standards and studies. Ezdan Holding Group spares no effort in order to achieve maximum profitability and stability through targeting emerging companies with a promising future.

Sheikh Khalid also said that the group will spare no effort to contribute in achieving the ambitious development goal set inline with the Qatar National Vision 2030.

Ezdan’s stand at the exhibition includes special platforms for all subsidiaries of the Group, led by Ezdan Real Estate Company, Ezdan Hotel and Ezdan Mall.

Ezdan Holding Group, as part of its diversification drive, earlier announced the acquisition of shares in three companies listed in Qatar Exchange, which include Islamic Holding Group (35 percent), Widam Food, previously Mawashi (20.16 percent) and Qatari Investors Group (20.01 percent). Source: The Peninsula