A trade on special market in Qatar Exchange was executed Sunday, raising the market value over QR one billion.
Some 44 million shares of Ezdan Real Estate Company (ERES) were sold for QR 22. The value of the deal is QR 968 million.
Originally known as Thani Bin Abdullah Housing Group, the company became a limited liability company in 1993 which it in an excellent position to take advantage of the new opportunities developing in Qatar. In 2006 the Group s real estate investments were transferred to a new entity known as the Iskan Real Estate Company. In 2006, its name was changed to Ezdan Real Estate Company and it became a Qatari shareholding company, launching on the Qatar Exchange in 2008.
Ezdan Real Estate interim financial statements revealed a net profit of QR 201.6 million for the nine months period ended September 30, 2011 in comparison to a net profit of QR 172.2 million for the corresponding period last year.