DOHA: Ezdan, one of Qatar's leading real estate companies is going ahead with the construction of its first commercial centre, the Ezdan Mall 1 in Al Gharafa, one of many real estate projects being undertaken by the company.
The project is being built on a plot of around 66,000sqm. The total built area is around 120,00sqm, and the leasing area is 32 percent of the total built area, while 20 percent of the mall will be transformed into green spaces.
This mall is part of Ezdan's strategy to diversify its investments, having started by building housing projects dedicated for the middle income, and then luxury residential towers, and later administrative buildings, hotels and schools, and now modern shopping centres fulfilling the market's demands and the shoppers needs, and provides consumers and families a vast space gathering a number of international brands as under one roof.
Ezdan Real Estate Company Chairman Sheikh Thani bin Abdullah Al Thani said the company's focus is on supplying the local market housing units suitable for middle-income because they are the largest category in the community.
He noted that since it was established 50 years ago, Ezdan had been working to utilise every prospect to build housing units suitable for this segment of people in terms of monthly rent, but in the same time enjoys advanced features and perfect services within residential compounds of integrated services.
Sheikh Thani said that Ezdan continues its strong presence in the local arena as a key player in economic, cultural and urban development that is being witnessed by the country; asserting the company eagerness to serve the country, its people, and expatriates. Therefore the company would go on carrying out its real estate projects in different areas across the country.
Ezdan is about to fulfil the promise it made last year, regarding the projects related to commercial centres sector, one of them would be inaugurated next year, which could diversify company's income sources and consolidate the stake-holders rights, coinciding with the country vision for 2030, he added.
Ezdan Real Estate Company Board of Directors Member Sheikh Dr Khalid bin Thani Al Thani, said that since the company were listed on the stock exchange, the market value of the company achieved great leaps leading to doubling its value since listing.
He indicated that the expansion of the company and the increase of its capital will boost its resolve to increase the added value it is providing to the Qatari real estate sector to meet the growing needs for the different kinds of real estate units.
In 2010, Ezdan carried out many real estate projects, including integrated residential villages, buildings, residential high-rise towers, major shopping malls, which are still under construction, and expected to open this year. It also concluded the largest merger deal in the Qatari market, by means of acquisition of the International Group for Housing, raising the capital of the company after the merger to QR26.5bn.
© The Peninsula 2011
