Qatar’s Masraf Al Rayan Sells RE Firm Stake To Government Fund

Posted by: : Paul EbelingPosted on: July 14, 2014 Qatar’s Masraf Al Rayan Sells RE Firm Stake To Government Fund

Qatar’s Masraf Al Rayan Sells RE Firm Stake To Government Fund

The Qatari lender said it agreed to sell its 50% stake in Seef Lusail Real Estate Development.

Masraf Al Rayan, Qatar’s largest Islamic bank by market value, said Sunday it had agreed to sell its 50%  stake in Seef Lusail Real Estate Development Co to the RE (real estate) arm of the Gulf state’s sovereign wealth fund.

The bank, which did not disclose the sale price in its statement, had owned the company equally with Qatari Diar Infrastructure Company.

Under the agreement, it will divest a 49% stake to its joint venture partner, with the remaining 1% sold to Qatari Diar Real Estate Investment Company. Both are units of Qatari Diar, owned by the Qatar Investment Authority.

Stay tuned…

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Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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