Mubasher: Mazaya Real Estate Development Company on Sunday announced that it will study a merger deal with Al-Bandari Real Estate Company, one of the leading real estate companies in Qatar.
The company’s board agreed upon starting the study and issued directives to appoint legal and financial advisors to start feasibility studies, allowing the board to take the appropriate decision, according to a statement to the Qatar Stock Exchange (QSE).
The step comes in line with Mazaya’s policy to join projects and transactions with a suitable income, enhancing the position of the company in the local market through the increase of assets.
“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,” Hamad bin Ali Al Hedfa, Board Member and CEO of Mazaya, said.
This will affect the earnings per share and benefit the shareholders positively, the statement said.
By 09:38 am Qatar time, Mazaya’s stock inched up 0.13% at QAR 7.95.
