By Sachin Kumar
Ezdan Holding Group held its Ordinary General Assembly meeting under the chairmanship of Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman of the Group Board of Directors, where the Assembly approved the board recommendation to distribute cash dividends of 5 percent, equivalent to 50 dirham per share. The Group is all set to launch the first phase of its mega real estate project ‘Ezdan Oasis’.
“The Group has been able to demonstrate its leadership, over the past years, through its capability to efficiently manage its financial resources through a series of mega projects in promising investment areas,” said Ali Mohammed Al Obaidli, CEO of Ezdan Holding Group addressing the shareholders.
“We are now gearing up to launch the first phase of our mega real estate project ‘Ezdan Oasis’ which is composed of 2,058 residential and commercial units, 180 outlets including restaurants, cafés in addition to other vital facilities of different sizes. The project consists of four phases, and is spread out over a total area of 1 million square meters, targeting more than 35,000 individuals. The project features a total number of 9,346 multipurpose units of different sizes in Al Wukair area,” he added.
Al Obaidli said that the Group announced in 2016 the launch of Ezdan World Company, to represent the Group and manage its projects in the entertainment and tourism industry. As for now, this new subsidiary is currently managing the ‘Magical Festival Village’, aiming at making it the best leisure destination in Qatar, pointing to the Group's aspirations to contribute to the revitalization of local tourism through introducing new ambitious entertainment projects.
He said the Group is in the process of finalising the official opening of various projects in different sectors. In the hotel sector, Ezdan is preparing to fully launch ‘Ezdan Palace’ project, which boasts of 194 rooms and suites, and enjoys a strategic location on Al Shamal road near the major educational institutions.
The Group is making the final arrangements for the opening of Al Wakra Mall, which provides up to 167 outlets, opposite Al Wakra General Hospital; besides Al Wukair Mall, which consists of 135 commercial outlets.
The second issuance of its $500m Sharia compliant Sukuk, with five-year maturity, has recorded 240 percent oversubscription, with 129 investors participating in it. The Group completed the first issuance of its $500m Sharia compliant Sukuk in May 2016 at a record time with over 167 percent oversubscription. This came as part of an integrated plan approved by the Group’s General Assembly last April to issue islamic bonds worth $2bn or its equivalent in other currencies.
© The Peninsula 2017
