Ezdan : 2nd top real estate company in the Arab world in 2017

Ezdan Holding Group (EHG) was ranked the second top real estate developer in the Arab world based on the annual ranking held by Forbes Middle East magazine. The ranking evaluates the most prestigious companies in real estate, one of the fastest growing sectors in the area.

Furthermore, EHG came second among the top Arab companies listed in the financial market. The top 40 listed real estate developers have a combined market value of $90.5 billion, revenues of $18.1 billion, assets worth $126.5 billion and profits of $5.1 billion, as per Forbes ranking.

Mr. Ali Al Obaidli, CEO of Ezdan Holding Group expressed his contentment of the Group ability to maintainaprominent place in the global ranking, which is a reliable benchmark in companies performance evaluation in different sectors, not only real estate. Mr. Al Obaidli further pointed out that Ezdan Holding Group has been operating in the real estate sector for more than 55 years, and has since demonstrated a proven track record of success in various sub-activities of the real estate sector. Spearheading these activities is the residential sector, with up to 22,000 units, which have already been put in the local market, as well as about 6,000 units that will be gradually opened in the upcoming stages of Ezdan Oasis project.

Additionally, Al Obaidli explained that among the Group's sub-activities within the real estate sector is the hotel properties, with about 3800 four and five star units, dispersed over three hotels namely Ezdan Hotel West Bay, The Curve, to be officially inaugurated soon, as well as Ezdan Palace Hotel, featuring a unique luxurious oriental character. Such hotels are defined as an engine of growth in the hospitality and tourism sector in the State.

The Group CEO highlighted that Ezdan Holding Group activities have extended to include one of the most prestigious sectors in the country, the Malls Sector. Since retail and entertainment are among the prime catalysts of global economy. The Group has recorded a remarkable success by launching its first projects in this sector, Al Gharafa Mall in Al Wakrah and Al Wakair, in mid-April 2014, and have since been considered as a breakthrough in this vital sector.

Distinctive Financial Indices

Ezdan Holding Group has disclosed a net profit of QAR 1.155 billion (1 billion and 155 million Qatari riyals) during the first half of the current year, compared to QAR 927 million for the same period last year, an increase of 25%. The Group's earnings per share (EPS) during the first half of the year, increased by QAR 0.44, compared to QAR 0.35 during the same period of last year.

Ezdan's profits for the entire previous year stood at QAR 1.81 billion, compared to QAR 1.66 billion for 2015, an increase of 9%, which confirms the strength and stability of the Group's financial indices.

On her part, Editor-in-Chief of Forbes Middle East magazine, Ms. Khuloud Al Omian said: 'The region's real estate sector is one of the fastest growing in the world and is a key of economic growth indicator. We have highlighted, through our first rating of the largest real estate investment funds, the role these funds play in making the sector more attractive to stakeholders.'

The prominent business magazine based its rating of the top listed real estate companies on annual reports of the relevant firms as well as the stock market data. Forbes determined the ranks in relation to the following criteria: market value, assets, profits and revenues. The best private real estate firms were classified based on information from the questionnaires provided to the relevant companies, in addition to research reports submitted by real estate consultancies. Thus, the rank of each company was determined on the basis of the following criteria: the value of the projects under construction, the number of employees, the age of the company, and the classification of the real estate consultancy companies locally and internationally, as well as the classification of the best trust funds for real estate investment.