Doha, Qatar: QIIB and Qatari Diar Real Estate Investment Company have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in the field of real estate development and financing, by enabling the bank to provide financing for the purchase of plots in the Huzoom Lusail project (a key real estate development in Lusail City wholly-owned by Qatari Diar), in line with the financing terms and conditions approved by the bank.
The MoU was signed by Dr. Abdulbasit Ahmad Al Shaibei, QIIB Chief Executive Officer and Eng. Ali Mohamed Al Ali, Chief Executive Officer of Qatari Diar, in the presence of senior officials from both sides.
This agreement represents an important step in supporting the significant urban development taking place in Lusail City, which has become one of the most prominent residential, commercial, and investment destinations in Qatar, attracting increasing interest from both individuals and companies.
Huzoom Lusail project, is part of Lusail City, and is one of the ambitious developments that aligns with Qatar’s Vision 2030, and which aims to diversify the economy and boost investments in infrastructure and urban development.
The MoU also reflects the commitment of both parties to build strategic partnerships that contribute to strengthening the real estate sector as a key pillar of the national economy.
It further highlights QIIB’s commitment to financing major development projects and providing real estate solutions tailored to the needs of various customer segments, meeting their housing and investment aspirations.
Commenting on the MoU, Dr. Abdulbasit Ahmad al-Shaibei, CEO, QIIB, said: "We are delighted to sign this MoU with Qatari Diar, one of the leading real estate development companies in Qatar and the region. We are confident that this partnership will enhance the range of real estate financing options available to customers who are seeking to invest in the Huzoom Lusail Project.
"At QIIB, real estate financing is a top priority, as it is a key driver of the country’s urban renaissance. We are always keen to provide the best real estate financing products with flexible terms, easy procedures, and extended repayment periods, in alignment with Qatar National Vision 2030 and in support of comprehensive economic development.”
Dr Al Shaibei noted: "QIIB has developed a wide range of real estate financing solutions that address the needs of both individuals and corporates. We consistently innovate in designing these solutions to ensure financial inclusion and accessibility for all customer segments.
"Expanding such partnerships with leading institutions like Qatari Diar reflects our commitment to empowering our customers to seize investment opportunities in Qatar’s real estate market under the best possible terms and conditions.”
He concluded by saying: "We are confident that the Huzoom Lusail Project will be one of the most attractive developments for investors in the coming period, thanks to its prime location and integrated services. At QIIB, we remain committed to providing the best financing facilities that deliver added value to our clients and help them achieve their housing and investment ambitions.”
For his part, Eng. Ali Mohamed Al-Ali, CEO of Qatari Diar, stated:
"We are pleased to sign this MoU with QIIB, an important step in our efforts to provide practical financing solutions for purchasing plots in the Huzoom Lusail project. This project is one of Qatari Diar’s landmark developments in Lusail City and will represent a significant addition to Qatar’s real estate sector, as it embodies an integrated model for developing urban communities that combine living, working, and leisure, in line with the comprehensive renaissance the country is witnessing.
We are confident that this partnership with QIIB will further enhance the project’s attractiveness and open new horizons for both local and international investments.”
He added: "Through this cooperation with QIIB, we look forward to enabling customers to seize the investment opportunities offered by the project and benefit from the diverse real estate financing options provided by the bank.”
