ASSETS WORTH QR180 MILLION ACQUIRED BY AAMAL COMPANY
Local realty assets worth QR180 million, which include three residential compounds, have been purchased by Aamal Company. The assets comprise 24 villas and two buildings of 20 apartments, which include prime locations in Doha – West Bay Lagoon, Al Waab, Abu Hamour and Madinat Khalifa.
The transaction, which was funded entirely through existing cash resources, is expected to increase Aamal Real Estate's net assets by 7%.
“Aamal Company's diversified business model and focus on vital economic sectors allow us to be an active player in Qatar's growth, contributing directly to its further development and diversification,” said Sheikh Mohamed bin Faisal Al Thani, the company's Vice Chairman and Managing Director.
He added: “This acquisition is in line with the growth strategy of expanding the realty portfolio in key areas, fulfilling market demand for high-quality properties and maintaining a marketleading position.”