AS­SETS WORTH QR180 MIL­LION AC­QUIRED BY AAMAL COM­PANY

Qatar Today - - BUSINESS > REALTY CHECK -

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.”

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