Mazaya Real Estate Development would like to announce the completion of a business deal, pertaining to selling the Gloria Hotel owned by one of its subsidiaries, which is located in the heart of The Qatari Capital Doha in a distinguished location, overlooking the Doha Corniche. Currently the company is finalizing the procedures to complete the sale.
In light of the instability in the regional and international real estate market, and the effects of the current crisis all over the world on various companies specialized in this sector, Mazaya was able to complete the selling transaction of Gloria Hotel worth of 115 Million Qatari Riyals.
The successful selling of the Hotel at this particular time is a major achievement for the company and in its favor, as this deal is considered positive under the present circumstances that the world is going through, which has significantly affected the business operations in all its forms
In a statement from Mr. Ibrahim Jaham Al-Kuwari, Managing Director, Mazaya Real Estate Development will dedicate its direction from the investment return of this transaction in future projects, offering the best returns by working under safe investment conditions, resisting the market rebounds during crises and unstable economic conditions, and ensuring the flow of profitable liquidity to the company in accordance with the guidance of the Chairman and the Board Members for the best interest of the shareholders.
