{"id":53281,"date":"2017-04-29T22:11:19","date_gmt":"2017-04-29T15:11:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=53281"},"modified":"2017-04-29T20:29:46","modified_gmt":"2017-04-29T13:29:46","slug":"al-qudra-to-buy-al-rayan-investment-in-dh1bn-all-share-deal","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-qudra-to-buy-al-rayan-investment-in-dh1bn-all-share-deal\/","title":{"rendered":"Al Qudra to buy Al Rayan Investment in Dh1bn all-share deal"},"content":{"rendered":"


\nAbu Dhabi-based investment company Al Qudra Holding (Al Qudra) has announced that it is set to buy Al Rayan Investment for Dh1 billion.The transaction will be completed through a share swap for Al Qudra shares, with the company issuing 210.4 million new shares, expanding its existing share base from 600 million shares to 810.4 million. Following the acquisition, the combined entity will have total assets worth Dh4 billion.
\nA statement from Al Qudra said that its plan would increase the company’s revenue from “diversified and sustainable sources”.It said that the deal would be led by the Department of Finance and by First Abu Dhabi Bank, which is the official shareholders’ registrar for both businesses.Al Qudra is also progressing with plans agreed last year to raise Dh250 million through a convertible bond issue, with the bonds offering a guaranteed annual coupon. The bonds will be listed on the Abu Dhabi Securities Exchange, and the company’s shares will trade on the secondary market.
\nThe decisions were taken at the firm’s annual general meeting, where board directors approved accounts which showed that it increased its net profit by 28 per cent to Dh264m on revenue of about Dh1bn.Vice-chairman Khalifa Yousef Al Khouri said: “This growth is a testament to our commitment to remain a preferred investment partner as we continue to steadily work towards our objectives.”The company launched several property projects last year, including the Traditional Souq, a 245,000-square-metre development near Sheikh Zayed Grand Mosque containing commercial, cultural and entertainment space including a covered market, a theatre, an arts centre, a hotel and restaurants.
\nIt also launched Al Sadu Towers – a five-tower luxury apartment project offering 1,300 apartments close to the Shams Abu Dhabi complex in Reem Island – and a project containing 2,550 villas known as Barari Al Ain Fayda close to the Jebel Hafeet mountain base. Alongside its real estate projects, the company has investments in an array of other businesses, including a manpower firm, a sports management business and a public relations company, among others.
\nA report on Abu Dhabi’s residential market published this month by JLL found that almost half of all of the residential units in the pipeline are in the “new island communities” of Reem Island, Saadiyat Island, Yas Island and Al Raha Beach. It said that completion levels remain fairly low, however, with only 3,100 homes handed over in Abu Dhabi last year (bringing the total to 248,000), and although 5,000 are scheduled to complete this year, handover of much of this is expected to be delayed.
\n“Since 2015 annual supply completions have dropped to long-term lows as the market adjusted, liquidity tightened, developers became more cautious and due to the impact of tightened planning policy and the new real estate regulations,” explained David Dudley, the head of JLL’s Abu Dhabi office. “This reduction in annual supply completions is welcomed at a time of weaker demand.”mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Al Qudra to buy Al Rayan Investment in Dh1bn all-share deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi-based investment company Al Qudra Holding (Al Qudra) has announced that it is set...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-53281","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dRn","jetpack-related-posts":[{"id":126085,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-rta-to-open-11km-road-project-linking-to-the-entry-points-of-al-qudra-lakes-in-may\/","url_meta":{"origin":53281,"position":0},"title":"Dubai\u2019s RTA to open 11km road project linking to the entry points of Al Qudra Lakes in May","date":"April 25, 2022","format":false,"excerpt":"\r The RTA's road improvement project is set to open in May and will increase intake from 1,800 to 4,000 vehicles\r \r Source : arabianbusiness.com\r Read more...Dubai\u2019s RTA to open 11km road project linking to the entry points of Al Qudra Lakes in May","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/04\/RTA-Road-project-Al-Qudra-Lakes-1A-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4744,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/astana-blaze-under-control-says-aldar\/","url_meta":{"origin":53281,"position":1},"title":"Astana blaze under control, says Aldar","date":"February 15, 2016","format":false,"excerpt":"\r \r Aldar said today the authorities had full control of its 500,000-square metre project in Kazak\u00adhstan that was engulfed in a blaze.Abu Dhabi's largest developer confirmed this evening that fire had broken out at its Abu Dhabi Plaza project in Astana, the Kazakh capital, on Saturday. 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While the Ranches has carved out a niche for itself as Emaar's suburban development inhabited by firmly middle-class types,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32187,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-launches-three-bed-akoya-fresh-villas-for-dh1-2-million\/","url_meta":{"origin":53281,"position":3},"title":"Damac launches three-bed Akoya Fresh villas for Dh1.2 million","date":"October 29, 2016","format":false,"excerpt":"\r Damac Properties has announced the launch of a series of new three-bedroom villas at its Akoya Oxygen master development in Dubailand.The company on Saturday said the Akoya Fresh villas have been targeted at young professional couples and families with a starting price of Dh1.2 million, which is payable over\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-to-sell-off-plots-of-land-at-akoya-oxygen-project-in-dubai\/","url_meta":{"origin":53281,"position":4},"title":"Damac to sell off plots of land at Akoya Oxygen project in Dubai","date":"August 9, 2016","format":false,"excerpt":"\r Damac Properties is to start selling off plots of land at its Akoya Oxygen community in Dubai.The plots will have a starting price of Dh600,000 and Damac said that it will give investors up to 10 years to build on them. 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