Ezdan Holding chairman Sheikh Dr Khalid bin Thani al-Thani (second right) and other directors at the annual general meeting last night. Picture: Thajuddin
Ezdan Holding is preparing for the inauguration of some “10 villages” in Qatar, which will bring to the market about 5,000 residential units, company CEO Ali Mohamed al-Obaidly has said.
In a statement issued in connection with the company’s annual general meeting last night, he said Ezdan Holding was also gearing up for the inauguration of three state-of-the-art malls - Ezdan 1, Ezdan II and Ezdan III - across Doha.
Ezdan Mall 1 will be opened at Gharafa this month, Ezdan Mall 11 at Wakrah next year and Ezdan Mall III at Wukair in 2015.
Ezdan Holding chairman Sheikh Dr Khalid bin Thani al-Thani said the company achieved tremendous growth following the diversification of its investment portfolio.
“From a real estate firm, we have now become a holding company for many firms that focus on different segments of the economy. The future indeed looks promising,” Sheikh Dr Khalid said.
Ezdan Holding will also open a “distinguished” hotel on the Shamal Road, which will have some 200 rooms and more than 170 villas.
Ezdan shareholders yesterday approved a proposal by the board of directors to distribute a cash dividend of 1.3%, which translates into Dh13 per share.
Ezdan Real Estate has reported an 18% jump in net profit to QR408.75mn in 2012 mainly on robust gains recorded by its associate companies.
Of the QR408.75mn net profit, residential and commercial property contributed QR223.37mn; suites and hotels QR135.27mn and investments QR50.11mn.
Total assets were valued at QR38.89bn, comprising investment property of QR33.20bn, investments of QR2.73bn in equity accounted investees and available-for-sale investments of QR2.32bn.
Total equity stood at QR27.75bn on a capital base of QR26.52bn and earnings-per-share was QR0.15 at the end of December 31, 2012.
