DOHA: Ezdan Holding Group, Qatar’s leading real estate developer, recorded a net profit of QR1.22bn up to September 2015, a rise of 20 percent compared to QR1.01bn delivered in the same period last year.
The group’s huge jump in its profits, despite the economic setback that the regional markets are enduring, is attributed to the stability of the Qatari market and the group’s continuing growth rate in revenue.
The Ezdan Holding Group earnings per share achieved QR0.46 by the end of the third quarter of 2015, compared to the yield of 2014’s EPS, which recorded QR0.38.
As the group recorded an increase in revenues of QR1.56bn by the end of the third quarter, Ezdan Holding Group has announced its intention to proceed with the implementation of its plans to achieve high growth levels through a new strategy based on the diversification of its investments through pumping revenues in different sectors across a number of promising stock exchange companies.
The group through this strategy aims to achieve high return rates while minimising risk for its core investments and ensuring their stability.
Ezdan Holding Group has achieved record profits exceeded QR858.16m in the period ended June 30, 2015, compared to QR718.1m for the same period of last year, an increase of 20 percent.
Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman of Ezdan Holding Group said, “The announced profits come as the product of the Group’s effort and vision during the last period, which has paid off, thanks to Allah. We believe that the results are in fact very positive when compared to the surrounding economic environment, not locally, but regionally and globally. Despite the fact that the local economy escaped most of the effects caused by the drop in global oil prices, the global economy drinks from one cup, what may affect the west will most definitely reach the East, and vice versa.”
He added that the Group has a number of investment plans, which will be announced once thoroughly studied. These investments will reinforce the vision of the Group towards the diversification of its investments. He added that he has the most confidence in the continued growth of Ezdan Holding Group in light of unrelenting hard work towards achieving its desired goals.
Ezdan Holding Group CEO, Ali Al Obaidli, said that the Group has undergone major changes during the past few years, starting from its vision and strategy, up to its profits that are regularly announced, and of course, through a tremendous change in the type and size of its investments.
“The transformation of Ezdan Holding Group from a real estate company into a holding group aimed at widening investment options, which is what actually happened through the entry of the Group into new investment sectors by acquiring influential stakes in companies with distinct growth rates. New investment sectors that the company would not have invested directly in otherwise. Nowadays, the Group has a rich and diverse investment portfolio that generate superior returns throughout the year,” he said.
Al Obaidli added that the Group’s management did not focus their efforts solely on a comprehensive revision of plans to achieve a radical change in the size and quality of investments, but also on concentrated on rehabilitating and developing existing projects and investments. On the top list was the real estate sector, which, thanks to this concentration, has witnessed tremendous strength in revenues during the last period. Another important axe of focus was to accelerate the pace of work on ongoing projects to reach the operational phase as soon as possible, in collaboration with the relevant companies.
The Peninsula
