Ezdan board members attending the ordinary and extraordinary general assembly meetings yesterday

Ezdan Real Estate will soon transform into a holding company and diversify its investments through purchasing 15 companies from Tadawul Holding Group. These were approved by shareholders yesterday at its ordinary and extraordinary general assembly meetings chaired by chairman Sheikh Khaled bin Thani al-Thani.
Shareholders authorised the board of directors to buy 15 single proprietor companies from “Tadawul Holding Group” based on an assessment made by Commercial Capital and KPMG.
The decision to buy these companies will lead “Ezdan Holding” to rise to the level of future challenges, giving it the ability to beat any competition with the assistance of its strong solvency, Sheikh Khaled said.“Driven by our commitment towards further progress and success, we are expanding the scope of business, and increasing and diversifying investments and sources of revenue,” he said.
The shareholders authorised the board to conclude the deal of purchasing properties from Tadawul Holding. They also authorised the board to obtain the required funds from banks to complete the purchase of targeted properties and companies.
The shareholders also agreed to sell Ezdan Trading and Contracting Company to Sakk Real Estate Group Company and authorised the board to complete the sale process.