Mazaya Real Estate Development is considering a strategic partnership with Al Bandari Real Estate Company
Mazaya Real Estate Development Company announced its intention to study the possibility of merging with Al-Bandari Real Estate Company. Mazaya's Board of Directors agreed to start this study and issued directives to appoint legal and financial advisors to start feasibility studies and then present the final results to the Board for appropriate decision making.
In response to a question about the importance of the partnership with Al Bandari Real Estate, Mr. Rashid bin Fahad Al Naimi, Chairman of Mazaya Real Estate Development, said that the transaction is a strategic partnership with one of the leading real estate companies in Qatar, where Al Bandary owns couple of income generating assets alongside with supporting services for the real estate. The transaction is in line with the policy of Mazaya Real Estate Development, to enter into projects and transactions with a suitable income, which increases the position of the company in the local market through the increase of assets, which reflects positively on the earnings per share and benefit the shareholders.
Mr. Hamad bin Ali Al Hedfa, Board Member and Chief Executive Officer of Mazaya Real Estate Development, said that such support services would reduce capital expenses, operating expenses and ensures the quality of services provided to customers. The value of the transaction will be determined after the consultants' work has ended, and such transaction is expected to have its positive return, which results in an increase in the company's profits and assets and enhances the stability of the company domestically and strengthens it regionally.
Al Bandari Real Estate Company is one of the leading real estate companies in the State of Qatar in the field of real estate development and with a high portfolio of projects, it has made it the leading real estate company in the country after it succeeded in offering its services and offering its diverse and unique real estate products in the real estate market or advisory services, Al Bandari Real Estate Company has been able to establish solid partnerships with various business sectors in the country to become a reliable company that to be followed in the real estate sector in Qatar through the adoption of integrated strategies for sale, management and purchase as an integral part of the management of its investment portfolio
Mr. Mohammed bin Abdul Latif Al Mana, Chairman of Al Bandari Real Estate Company, said: Mazaya Real Estate Development is one of the leading real estate developers listed on the Qatar Exchange. Mazaya has been a pioneer in the implementation of BOT contracts based on eco-friendliness and sustainable development standards in the development of its real estate projects. The company's expertise in such investments is an added value to the potential deal between the two companies.
"The potential transaction will expand the customer base of the two companies and raise the value of the companies' financial leverage in terms of increasing their real estate assets and their unlimited expansion to develop the real estate sector in all its aspects through the launch of new projects and increase the volume of sales and the pace of implementation," said Mohammed bin Abdul Latif Al Mana. The success of the transaction will create a new entity that will be one of the largest players in the Qatari Real Estate sector.
He added that the merger deals enhance the financial markets and moral and financial support by large companies for small companies and be able to achieve their strategic objectives and benefit from the opportunities for cooperation and this merger will have a positive impact on the real estate market in the State in terms of contribution in the rebalancing of the market and consolidation of companies and become influential and able to compete and re-confidence of customers in the real estate market in addition to the merger and that it will diversify sources of income and this is the time for mergers and diversification of investment.
