Tuesday, Jan 17, 2012
DUBAI (Zawya Dow Jones)--Developer Ezdan Real Estate Co., Qatar's largest real estate firm by market value, said Tuesday it's selling 1.53 billion Qatari riyals ($420 million) of property to Al Tadawal Holding Group.
The sale will be carried out in two phases and legal procedures related to the deal will be finalized by the end of the month, Ezdan said in a statement posted on the Doha bourse.
Al Tadawul Holding Group has a 77% stake in Ezdan, according to Zawya.com data.
Ezdan's upcoming projects in Qatar include two malls and a school, according to its website. The company's shares closed up 0.9% at QAR22.20 in a broadly negative overall market.
-By Alex Delmar-Morgan, Dow Jones Newswires; +974 6659 9818; alex.delmar-morgan@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
17-01-12 1248GMT
