Friday, Apr 22, 2011
Gulf NewsManama Qatar plans to construct the tallest tower in the world, local media reported.
“We have plans in the pipeline to build the tallest tower in Doha, however, it is subject to obtaining land from the concerned authorities,” Shaikh Thani Bin Abdullah Al Thani, chairman of Ezdan Real Estate Company, one of the largest real estate development companies in the region, said.
He however, did not give more details on the proposed tower project, Qatar Tribune daily reported on Wednesday.
Burj Khalifa in Dubai, standing 828 metres high, currently holds the official title as the tallest building in the world. Ezdan has over 7,000 residential units, which would go up to 18,000 once its projects are completed, Shaikh Thani said.
The company has bought millions of square metres of land and built partnerships with the landowners. However, not all permits for construction have been issued and the company is trying to get the process completed, he said.
According to the chairman, the new projects will add to the company’s properties tens of thousands of apartments and villas, dedicated to middle income people, which is the largest segment of the society.
“Today, Ezdan is one of the top companies in terms of market value in the GCC, and has emerged strongly in the business world and the investment sector, both locally and globally,” he said. “Last year, the company signed an agreement with Fifa and Qatar Bid Committee 2022 to build 50,000 housing units ahead of the global event.”
Ezdan reported a net profit of 121.3 million Qatari riyals (Dh121.3 million) in 2010.
The company’s rental revenue last year amounted to 443.3 million riyals, while operating profits reached to 297.6 million riyals, the report said.
The company’s total assets have gone up from 30 billion riyals at the end of 2009 to 31.9 billion riyals at the end of 2010, while rental revenues in 2010 amounted to almost 443.3 million riyals.
Ezdan completed the largest merger deal in the Qatari market by acquiring the ownership of the International Group for Housing, raising the capital to 26.5 billion riyals after the merger.
Established by Shaikh Thani Bin Abdullah Bin Thani Al Thani 47 years ago, the company was originally known as Thani Bin Abdullah Housing Group, it became a limited liability company in 1993. In 2006 the group’s real estate investments were transferred to a new entity known as the Iskan Real Estate Company. In 2006, its name was changed to Ezdan Real Estate Company.
By Habib Toumi/Bureau chief
© Gulf News 2011. All rights reserved.
Gulf NewsManama Qatar plans to construct the tallest tower in the world, local media reported.
“We have plans in the pipeline to build the tallest tower in Doha, however, it is subject to obtaining land from the concerned authorities,” Shaikh Thani Bin Abdullah Al Thani, chairman of Ezdan Real Estate Company, one of the largest real estate development companies in the region, said.
He however, did not give more details on the proposed tower project, Qatar Tribune daily reported on Wednesday.
Burj Khalifa in Dubai, standing 828 metres high, currently holds the official title as the tallest building in the world. Ezdan has over 7,000 residential units, which would go up to 18,000 once its projects are completed, Shaikh Thani said.
The company has bought millions of square metres of land and built partnerships with the landowners. However, not all permits for construction have been issued and the company is trying to get the process completed, he said.
According to the chairman, the new projects will add to the company’s properties tens of thousands of apartments and villas, dedicated to middle income people, which is the largest segment of the society.
“Today, Ezdan is one of the top companies in terms of market value in the GCC, and has emerged strongly in the business world and the investment sector, both locally and globally,” he said. “Last year, the company signed an agreement with Fifa and Qatar Bid Committee 2022 to build 50,000 housing units ahead of the global event.”
Ezdan reported a net profit of 121.3 million Qatari riyals (Dh121.3 million) in 2010.
The company’s rental revenue last year amounted to 443.3 million riyals, while operating profits reached to 297.6 million riyals, the report said.
The company’s total assets have gone up from 30 billion riyals at the end of 2009 to 31.9 billion riyals at the end of 2010, while rental revenues in 2010 amounted to almost 443.3 million riyals.
Ezdan completed the largest merger deal in the Qatari market by acquiring the ownership of the International Group for Housing, raising the capital to 26.5 billion riyals after the merger.
Established by Shaikh Thani Bin Abdullah Bin Thani Al Thani 47 years ago, the company was originally known as Thani Bin Abdullah Housing Group, it became a limited liability company in 1993. In 2006 the group’s real estate investments were transferred to a new entity known as the Iskan Real Estate Company. In 2006, its name was changed to Ezdan Real Estate Company.
By Habib Toumi/Bureau chief
© Gulf News 2011. All rights reserved.
