16 June 2008
Doha - Abyaar Qatar Real Estate Development Company has announced it has received permission from Qatari Diar to convene work on projects here worth an estimated QR1bn. The announcement was made yesterday by Yousef Al Hashemi, Abyaar Qatar Chairman, at the company's ordinary and extraordinary general meetings held in Kuwait. Abyaar Real Estate Development is a joint venture between Kuwait's Aayan Leasing and Investment Company and Al Rashdan Group.
Al Hashemi said: "Abyaar Qatar has been established with a capital of KD15m (QR205m). Main shareholders in Abyaar Qatar include Aayan Leasing and Investment Company, Securities House, Abdul Aziz Al Dakheel, Aljaber Group, Al Rashdan Group and Abyaar Real Estate Development Company.
The official announcement of the company in Qatar will take place towards the end of this year." Al Hashemi said the company's board will set the quota for the distribution of shares to new shareholders, as well as the regulations for capital call. "The cost of our projects in Qatar is estimated at QR1bn. We have recently obtained permits from Qatari Diar, main developers of the Lusail project, to start working on our projects in Qatar on the land that we bought," he said.
Doha - Abyaar Qatar Real Estate Development Company has announced it has received permission from Qatari Diar to convene work on projects here worth an estimated QR1bn. The announcement was made yesterday by Yousef Al Hashemi, Abyaar Qatar Chairman, at the company's ordinary and extraordinary general meetings held in Kuwait. Abyaar Real Estate Development is a joint venture between Kuwait's Aayan Leasing and Investment Company and Al Rashdan Group.
Al Hashemi said: "Abyaar Qatar has been established with a capital of KD15m (QR205m). Main shareholders in Abyaar Qatar include Aayan Leasing and Investment Company, Securities House, Abdul Aziz Al Dakheel, Aljaber Group, Al Rashdan Group and Abyaar Real Estate Development Company.
The official announcement of the company in Qatar will take place towards the end of this year." Al Hashemi said the company's board will set the quota for the distribution of shares to new shareholders, as well as the regulations for capital call. "The cost of our projects in Qatar is estimated at QR1bn. We have recently obtained permits from Qatari Diar, main developers of the Lusail project, to start working on our projects in Qatar on the land that we bought," he said.
© The Peninsula 2008
