Ezdan Holding set to inaugurate 10 ‘villages’

Ezdan Holding chairman Sheikh Dr Khalid bin Thani al-Thani (second right) and other directors at the  annual general meeting  last night. Picture: ThajuddinEzdan 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.