Doha, Qatar: Aamal Company (Aamal), one of the region’s largest and most diversified companies, is pleased to announce the approval by its Board of Directors of the acquisition by Aamal Services (a subsidiary of Aamal) of Property Maintenance and Management Solutions (MMS) from a related party, namely Al-Faisal Holding.
Property Maintenance & Management Solutions is one of the leading companies in Qatar specializing in providing a range of air conditioning, electricity, sanitary maintenance, cleaning and hospitality services inside buildings and shopping malls.
Aamal Services has acquired 100 percent of MMS for QR21.8m, the value given to it by an independent assessor. The acquisition will be entirely financed from within the Company rather than via any bank loans.
On this occasion, Rashid bin Ali Al Mansoori, CEO of Aamal Company, commented: “This acquisition is a positive step in enhancing the integration between Aamal Company and the increasing activities being provided by Aamal Services."
"It further strengthens the role of the service management sector within the Company, in line with our overall strategy. Maintenance & Management Solutions is one of the leading companies in Qatar and is a distinctive addition to our diversified business model, one that will see increasing returns for all stakeholders.”
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