Tribune news network
doha
Mazaya Real Estate Development has completed a business deal, pertaining to selling the Gloria Hotel owned by one of its subsidiaries, which is located in a distinguished location, overlooking the Doha Corniche, the company announced in a statement on Tuesday.
Currently the company is finalising 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 specialised in this sector, Mazaya was able to complete the selling transaction of Gloria Hotel worth QR115 million, the statement said.
Mazaya said the successful selling of the hotel at this particular time is a major achievement for the company and in its favour, as the deal was considered positive under the present circumstances that the world is going through, which has significantly affected the business operations in all its forms
Ibrahim Jaham al Kuwari, Managing Director, Mazaya Real Estate Development said the company would dedicate the investment return of the 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.
doha
Mazaya Real Estate Development has completed a business deal, pertaining to selling the Gloria Hotel owned by one of its subsidiaries, which is located in a distinguished location, overlooking the Doha Corniche, the company announced in a statement on Tuesday.
Currently the company is finalising 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 specialised in this sector, Mazaya was able to complete the selling transaction of Gloria Hotel worth QR115 million, the statement said.
Mazaya said the successful selling of the hotel at this particular time is a major achievement for the company and in its favour, as the deal was considered positive under the present circumstances that the world is going through, which has significantly affected the business operations in all its forms
Ibrahim Jaham al Kuwari, Managing Director, Mazaya Real Estate Development said the company would dedicate the investment return of the 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.