Estithmar Holding group, a Qatari public shareholding company, announced that its two subsidiaries have established two branches in Iraq.
In a statement published on the Qatar Stock Exchange website Monday, Estithmar Holding said that its subsidiary "Elegancia Healthcare WLL" established a branch in Iraq in line with the memorandum of understanding that was signed recently that aim to manage and operate several hospitals in Iraq that will start soon in Iraq.
It added that its subsidiary "Elegancia Marine WLL" also established a branch in Iraq.
This implements Estithmar Holding's strategy to signify its commitment to the global expansion to increase shareholder value, within the framework of the close strategic relations between the two countries.
Estithmar Holding had revealed to Qatar News Agency that it signed agreements with the Iraqi investment authority worth $7bn that includes real-estate and tourism development, in addition to the operation and management of hospitals.
Related Story