Mazaya Qatar plans IPO
Mazaya Qatar's decisionreflects its commitment to carrying out its plan to develop ambitious real estate projects
Dubai: Mazaya Qatar Real Estate Development Company (QSC) announced in Doha yesterday that an initial public offering is scheduled for January 2010.
The company received the approval for the IPO from the Qatar Financial Markets Authority.
Mazaya Qatar's decision to offer its shares for public subscription reflects its commitment to carrying out its planned strategy of developing ambitious real estate projects and entering real estate consortiums in Qatar.
Full details of the IPO will be shared at a press conference the company is planning, including the nominal value per share and the maximum and minimum subscription.
Rashid Fahad Al Naimi, chairman of Mazaya Qatar, said: "The Qatari real estate market will soon see the offering of Mazaya Qatar stocks for public subscription, in line with the plans the company has had since its inception. We are committed to carrying out the plans determined by the board of directors."
The Sharia-compliant company specialises in real estate development and investment, including residential, commercial and industrial compounds.
