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Tribune News Network
Doha
Mazaya recently disclosed that it has completed all the procedures required to register four residential buildings in Al Sadd. The buildings have officially been transferred to its private owners.
The value of the deal is QR150 million, and a contract has been signed with a government institute to lease these buildings for a period of five years. The deal is considered positive because of financial return to the company and its shareholders.
The buildings consist of 155 housing units, divided into two types of apartments —three-bedroom and two-bedroom. Each building contains a swimming pool, two gyms (one for men and another for women), and parking facility for 165 cars. The total building area is 6,659 square metres. The buildings are located in a vital location in the Al-Sadd area, and the site is distinguished by its proximity to all basic services and the daily needs of the residents.
“Mazaya has continued to make remarkable progress in terms of seizing profitable growth opportunities during the previous period, as it succeeded in completing this deal and it is considered a golden opportunity that has been successfully seized and will return,” said Ibrahim Jaham Al Kuwari, Managing Director of Mazaya Real Estate Development Company.
Kuwari pointed out that the idea behind these acquisitions is the board of directors’ desire to diversify sources of income from guaranteed and rewarding profit deals, improve the company’s performance and raise its productivity, as this deal was preceded by other projects and deals carried out by the company.
Doha
Mazaya recently disclosed that it has completed all the procedures required to register four residential buildings in Al Sadd. The buildings have officially been transferred to its private owners.
The value of the deal is QR150 million, and a contract has been signed with a government institute to lease these buildings for a period of five years. The deal is considered positive because of financial return to the company and its shareholders.
The buildings consist of 155 housing units, divided into two types of apartments —three-bedroom and two-bedroom. Each building contains a swimming pool, two gyms (one for men and another for women), and parking facility for 165 cars. The total building area is 6,659 square metres. The buildings are located in a vital location in the Al-Sadd area, and the site is distinguished by its proximity to all basic services and the daily needs of the residents.
“Mazaya has continued to make remarkable progress in terms of seizing profitable growth opportunities during the previous period, as it succeeded in completing this deal and it is considered a golden opportunity that has been successfully seized and will return,” said Ibrahim Jaham Al Kuwari, Managing Director of Mazaya Real Estate Development Company.
Kuwari pointed out that the idea behind these acquisitions is the board of directors’ desire to diversify sources of income from guaranteed and rewarding profit deals, improve the company’s performance and raise its productivity, as this deal was preceded by other projects and deals carried out by the company.
