Mazaya recently disclosed that it has completed all the procedures required to register the 4 residential buildings in the Al Sadd area, which it had previously announced, and that the buildings have officially been transferred to its private ownership
The value of the deal is 150 million Qatari riyals, and a contract has been signed with a government institute to lease these buildings for a period of 5 years. This deal is considered positive because of its financial return for the company and its shareholders.
The buildings consist of 155 housing units, divided into two types of apartments, including three-bedroom apartments and two-bedroom apartments, and each building contains a swimming pool, two gyms (one for men and another for women), and parking for 165 cars, and the total building area is 6659 square meters. The buildings are located in a vital location in the Al-Sadd area, and this site is distinguished by its proximity to all basic services and the daily needs of the residents.
In a comment by Eng. Ibrahim Jaham Al-Kuwari, Managing Director of Mazaya Real Estate Development Company, on the matter, he said, “Mazaya has continued to make remarkable progress in terms of seizing profitable growth opportunities during the previous period, as it succeeded in completing this deal and it is considered a golden opportunity that has been successfully seized and will return. With a good return, God willing, on the company and its shareholders.
Al-Kuwari pointed out that the idea behind these acquisitions is the board of directors' desire to diversify sources of income from guaranteed and rewarding profit deals, improve the company's performance and raise its productivity, as this deal was preceded by other projects and deals carried out by the company, such as the company's announcement of the start of the Marina Plaza project, in addition to the acquisition of 4 buildings in (Ariane City) project in Mesaimeer.
