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Qatar First Bank earns half-yearly net profit of QR41mn
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QFB reports QR20 6m profit in first quarter
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08 Feb 2021 - 8:59
The Peninsula
Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity in the Qatar Stock Exchange, has completed the acquisition of Waterway Plaza I, a class A+ office tower spanning more than 223,0000 square foot located in suburban Houston, Texas, USA. Waterway Plaza I marks QFB’s first acquisition for the year in the USA, following only by a matter of days the bank previous acquisition of the Lulu Al Messila Hypermarket in Qatar.
Growing ever more QFB income-generating real estate portfolio open to client investments, Waterway Plaza I has already attracted sizeable commitments from the bank’s trusted customer base and the investment will remain open for subscription until March.
18 Jan 2021 - 8:31
The Peninsula
Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on Qatar Stock Exchange (QSE: QFBQ), announced the completion of QAR 262.5 million acquisition of the retail hypermarket building in Messila thereby cementing the Bank’s presence within the local real estate market.
The property is currently fully occupied by Lulu as a fully fledge Hypermarket located at Jassim Bin Hamad Street south of Madinat Khalifa – Messila, Doha with a built up area of 44,611 sqm. Built over 4 floors, the property offers a total of 299 parking slots providing ample convenience to Lulu for a successful retail hypermarket operation. The property was built to suit in 2016 and is 100% occupied under a triple net (NNN) 20-year locked lease, with 16 years.
QFB acquires The Grand 2 at Papago Park Center in US
13 Dec 2020 - 8:34
A view of The Grand 2 at Papago Park Center in Tempe, Arizona, US.
The Peninsula
Doha: Qatar First Bank LLC (QFB) yesterday announced it has acquired The Grand 2 at Papago Park Center, a 358,800 square foot newly completed state-of-the-art Class A office building that is 100 percent leased to DoorDash under a 15-year triple net lease (NNN), located in Tempe, Arizona - United States, part of the metro Phoenix market.
Sheikh Faisal bin Thani Al Thani, QFB Chairman commented, “This transaction cements QFB’s new fee-based income business model, implemented to enhance QFB’s investment management strategy, and further strengthens its Shariah-compliant US Real Estate Portfolio. The new strategy continues to invest in handpicked Sharia-compliant real estate assets that provide highly stable income to investors as well as upside potential.”
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