Ezdan Holding Group has registered a stupendous 62% expansion year-on-year in net profit to QR946mn in the first three months of this year.
Earning-per-share rose to QR0.36 at the end of March 31, 2017 compared to QR0.22 in the same period of 2016.
“The remarkable results for this quarter are very promising. We are well confident that the year 2017 will witness full operation of all Ezdan projects and ventures,” Ezdan group chief executive Ali Mohamed al-Obaidli said.
Highlighting the first phase of Ezdan Oasis project, a company spokesman said the first phase consists of a total 2,058 residential, commercial and administrative units. During this phase, it is planned to open up to 180 commercial units, which would include restaurants, cafes and vital facilities.
Al-Obaidli described Ezdan Oasis project, which consists of up to 9,346 housing units, as the most important project among its portfolio in the realty sector because it targets a population of at least 35,000 people, who will be able to enjoy the development witnessed in Al Wakrah area.
Ezdan Oasis dwellers would benefit from diverse services provided by the company through its commercial centres such as Wukair and Al Wakrah Malls. During the current year, the group intends to fully open Ezdan Malls Al Wakrah and Al Wukair.
In 2016, the group announced the soft opening of Ezdan Wukair Mall; it’s the third largest in terms of area. Comprising 11 two-storied buildings, the mall is located near Ezdan villages, serving a large population.
In the last quarter of 2016, Ezdan announced the opening of Carrefour store in the first operational phase of Al Wakrah Mall, which is the second largest mall in terms of area. The Al Wakrah mall brings the most luxurious international brands for the first time to the area.
Ezdan is now gearing up to the opening of the Curve Hotel in the coming period. The hotel consists of 24 floors and includes 600 hotel apartments, sprawling over 6,788 sq m and overlooking the West Bay.
The group is also preparing to finalise Ezdan Palace Hotel, its fully owned hotel. It is the group’s first five-star hotel, located on Al Shamal Road, featuring up to 194 hotel rooms and suites.


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