Latest news with #AamalCompany
Zawya
16-07-2025
- Business
- Zawya
Qatar: Aamal Company to buy Golden Aamal Tower for $131.42mln
The Golden (Aamal) Tower is a prominent mixed-use property with a total of 32 floors comprising 33 commercial office units across 15 floors and 72 residential apartments from floors 16 to 32, with three basement levels providing parking for 341 vehicles. Aamal Company has entered into an agreement with Al Jazi Real Estate to purchase the Golden (Aamal) Tower located in Onaiza, for a total price of QR478.4mn. The purchase price was determined based on an independent valuation conducted by Cushman and Wakefield Qatar, a valuation firm accredited by the relevant regulatory authorities. The property is currently owned by Al Jazi Real Estate, which is a related party. The transaction would be executed through Aamal Real Estate, a wholly owned subsidiary of Aamal Company, which signed agreement with Al Jazi Real Estate. The Golden (Aamal) Tower is a prominent mixed-use property with a total of 32 floors comprising 33 commercial office units across 15 floors and 72 residential apartments from floors 16 to 32, with three basement levels providing parking for 341 vehicles. Strategically positioned in the high-demand Onaiza area, the property boasts an 88% occupancy rate reflecting its position as a preferred choice among tenants. The purchase aligns with Aamal's strategic vision to expand its recurring income portfolio. Based on current occupancy levels, the property is expected to generate approximately QR20mn in annual rental income, with projected growth of 3% to 5% per annum. The purchase will be fully financed through a bank facility under Aamal Company. This investment is expected to yield multiple synergies for Aamal, particularly by centralising several group subsidiaries under one roof, reducing third-party rental dependence, and creating long-term cost efficiencies. Moreover, the company anticipates significant capital appreciation, supported by Qatar's strong economy. 'This purchase reflects our strategy to expand our real estate portfolio with profitable and high-quality assets in terms of location and asset type, which includes a mix of commercial and residential," said Aamal Company chief executive officer Rashid bin Ali al-Mansoori. The Golden (Aamal) Tower is not only a high-quality asset in a prime location, but it also offers long-term value through strong rental returns and operational efficiencies, according to him. This purchase underscores Aamal's commitment to enhancing shareholder value through sound, income-generating investments and prudent financial strategy. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Qatar Tribune
15-07-2025
- Business
- Qatar Tribune
Aamal acquires Golden (Aamal) Tower for QR478.4 million
Tribune News Network Doha Aamal Company (Aamal), one of the region's largest and most diversified companies, is on Tuesday announced that through its subsidiary, Aamal Real Estate (ARE), it has entered into an agreement to purchase the Golden (Aamal) Tower located in Onaiza, Doha, for a total price of QR478.4 million. The purchase price was determined based on an independent valuation conducted by Cushman & Wakefield Qatar, an independent valuation firm accredited by the relevant regulatory authorities. The property is currently owned by Al Jazi Real Estate which is a related party. The Golden (Aamal) Tower is a prominent mixed-use property with a total of 32 floors comprising 33 commercial office units across 15 floors and 72 residential apartments from floors 16 to 32, with three basement levels providing parking for 341 vehicles. Strategically positioned in the high-demand Onaiza area, the property boasts an 88 percent occupancy rate reflecting its position as a preferred choice among tenants. The purchase aligns with Aamal's strategic vision to expand its recurring income portfolio. Based on current occupancy levels, the property is expected to generate approximately QR 20 million in annual rental income, with projected growth of 3 percent to 5 percent per annum. The purchase will be fully financed through a bank facility under Aamal Company. This investment is expected to yield multiple synergies for Aamal, particularly by centralising several group subsidiaries under one roof, reducing third-party rental dependence, and creating long-term cost efficiencies. Moreover, the company anticipates significant capital appreciation, supported by Qatar's strong economy. On this occasion, Aamal Company CEO Rashid bin Ali Al Mansoori said, 'This purchase reflects our strategy to expand our real estate portfolio with profitable and high-quality assets in terms of location and asset type, which includes a mix of commercial and residential. The Golden (Aamal) Tower is not only a high-quality asset in a prime location, but it also offers long-term value through strong rental returns and operational efficiencies. By consolidating several of our group companies into one property, we are reinforcing our commitment to sustainable growth, cost optimisation, and value creation for our shareholders.' This purchase underscores Aamal's commitment to enhancing shareholder value through sound, income-generating investments and prudent financial strategy.
Zawya
19-06-2025
- Business
- Zawya
Aamal Company contemplates acquisition of PME Qatar; talks commenced
Qatar - Aamal Company, one of the region's leading diversified companies, is planning to acquire PME Qatar, a leading manufacturer and supplier of high-quality thermoplastic piping systems, serving the country's construction, civil engineering, and industrial sectors. Aamal Company has commenced negotiations to acquire Hepworth PME Qatar, whose ownership is split between a related party and an unrelated party, and that the acquisition will be through one of Aamal Company's subsidiaries, it said in a regulatory filing with the Qatar Stock Exchange. Established in 2003, Hepworth PME Qatar offers comprehensive piping solutions, including pipes, fittings, valves, pumps, measurement and control systems, and jointing equipment and accessories. This potential acquisition aligns with Aamal's strategic objective to expand its industrial manufacturing segment, enhancing its product portfolio and market presence in line with Qatar's National Vision 2030. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Zawya
08-05-2025
- Business
- Zawya
Aamal signs over QAR1bln contract with Kahramaa awarded last year to Elsewedy Cables
Doha, Qatar – Aamal Company Q.P.S.C., one of the region's leading diversified companies, announced today that Elsewedy Cables Qatar – a subsidiary of Senyar Industries Qatar Holding W.L.L., one of Qatar's leading industrial groups in which Aamal holds a 50% ownership stake – has officially signed a contract with Qatar General Electricity & Water Corporation ("Kahramaa") valued at over QAR 1 billion. Under this contract, Elsewedy Cables Qatar will begin preparations to receive supply and project orders as part of the expansion of Kahramaa's power transmission system in Qatar. This includes the supply and installation of 132 kV power cables, which will be manufactured by Doha Cables, a company created as a partnership between Aamal and El Sewedy Cables. On behalf of Aamal Company, the agreement was signed by H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company. The signing ceremony was attended by several company representatives, including H.E. Sheikh Mohammed Bin Faisal Al Thani, Vice Chairman and Managing Director; Mr. Rashid bin Ali Al Mansoori, CEO; Mr. Ahmed Sadek El Sewedy, CEO of Elsewedy Electric; and Mr. Ahmed Fathi El Sewedy, Deputy CEO of Senyar Industries Qatar Holding. On this occasion, H.E. Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal Company Q.P.S.C., commented: 'We are proud to officially sign this contract with Kahramaa and greatly appreciate the confidence the Corporation has placed in our company. We take pride in the high quality of Elsewedy Cables' products, which will play a vital role in efficiently meeting the needs of this strategic project. We remain committed to providing the best solutions to support the development of Qatar's power and infrastructure sectors.' Mr. Ahmed Fathy Elsewedy, Deputy CEO of Senyar Industries Qatar Holding, commented: 'The signing of this contract marks a new phase in our fruitful partnership with Kahramaa. We are confident that the quality of Elsewedy Cables' products and the expertise of our team will ensure the successful and timely execution of this project to the highest standards. We are committed to supporting Qatar National Vision 2030 by delivering reliable solutions that align with the Country's ambitions and contribute to building advanced infrastructure.' About Aamal Company Q.P.S.C.: Aamal is one of the Gulf region's most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 4 May 2025, the Company had a market capitalisation of QAR 5.2 bn (US$ 1.4 bn). Aamal's operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar's wider economic growth and development. About Senyar Industries Qatar Holding: Senyar Industries Qatar Holding is one of the leading industrial groups in Qatar. It was established in 2007 as a joint venture between Aamal Company Q.P.S.C. and Elsewedy Electric, a regional leader in the manufacture of integrated cables and electrical products. Senyar aims to provide a fully integrated cable manufacturing and project delivery ecosystem, the first of its kind in Qatar. Senyar owns four subsidiaries: Doha Cables, Senyar Drums Factory, Senyar Copper Factory, and Elsewedy Cables Qatar. Aamal holds a 50% stake in Senyar Industries Qatar Holding. About Elsewedy Cables Qatar: Aamal holds a 38.3% stake in Elsewedy Cables Qatar. Established in 2006, Elsewedy Cables Qatar specializes in the distribution of electromechanical equipment, Doha Cables products, and externally manufactured cables, in addition to providing customized solutions for assigned projects.
Qatar Tribune
04-05-2025
- Health
- Qatar Tribune
Aamal, Novo Nordisk join forces to bring weight management drug Wegovy to Qatar
Tribune News Network Doha Ebn Sina Medical, a subsidiary of Aamal Company and a leading supplier of pharmaceutical, and Novo Nordisk, the Danish leading global healthcare company renowned for its expertise in treating chronic diseases such as diabetes and obesity, announced the availability of Wegovy (Semaglutide 2.4mg) in Qatar. The event was attended by HE Anders Bjørn Hansen, the Ambassador of Denmark to the UAE and Qatar, Aamal Company CEO Rashid Al Mansoori, in the presence of Manvendra Singh, General Manager of Novo Nordisk Qatar and Dr. Nayla Mansour, Commercial Director on behalf of Essam Faragalla, General Manager of Ebn Sina Medical. Wegovy (Semaglutide 2.4mg), the first and only once-weekly GLP-1 receptor agonist (GLP-1RA) indicated for chronic weight management in adults and adolescents ages 12 years and above1, is now available in Qatar. Obesity has emerged as a significant global epidemic, affecting approximately 1 billion individuals world-wide2. Obesity in the Gulf is rapidly unfolding with the highest rates globally3. In Qatar, the obesity crisis is particularly severe, the current prevalence of obesity (body mass index [BMI] ≥ 30 kg/m2) amongst adults in Qatar is estimated to be 41% with a notably higher prevalence amongst women (46%) and, nearly 76% of individuals in Qatar are classified as overweight; this places Qatar among the top 10 highest obesity rates in the world4,5,. The high rates of obesity and overweight in Qatar are linked to the high-country overall rates of related chronic conditions such as pre-diabetes, diabetes and cardiovascular diseases (CVDs) 6. The active ingredient in Wegovy, Semaglutide 2.4 mg, works by reducing hunger and increasing the feeling of fullness 1,7. Wegovy is indicated as adjunct to reduced calorie intake and increased physical activity for weight management, including weight loss and weight maintenance in adults with obesity (BMI ≥ 30 kg/m2) or with overweight (BMI ≥ 27 kg/m2) in the presence of at least one weight-related comorbidity. As per clinical research, Wegovy on top of diet and exercise delivers 17% mean weight loss sustained over 2 years with one third of patients having a reduction of at least 20% body weight loss 1,8,9,10. Semaglutide 2.4 mg demonstrated significant improvements in other cardiometabolic risk factors such as: waist circumference, blood pressure, lipid profile, Glycemic parameters & C-reactive protein. The SELECT clinical study including 17,604 adults with a BMI ≥27 kg/m2 demonstrated that Semaglutide 2.4 mg resulted in a statistically significant 20% risk reduction in Major Adverse Cardiovascular Events (MACE) in people with overweight or obesity and established CVD, without T2DM1,15. Besides its indication in adults, Wegovy is also approved as the first and only once weekly GLP-1 receptor agonist (GLP-1RA) for chronic weight management in adolescents with obesity from the age of 12 years1. This innovation may help transform the medical management of adolescent obesity in Qatar, where nearly 20% of children and adolescents are affected.6;11 During the event, Rashid bin Ali Al Mansoori, Aamal Company CEO, welcomed the attendees and highlighted this major step forward in addressing this public health challenge. He emphasized Aamal's commitment to advancing healthcare innovation and infrastructure in Qatar, through its subsidiaries such as Ebn Sina Medical in alignment with the country's National Health Strategy and Vision 2030, and reaffirmed Aamal's dedication to supporting access to the latest healthcare solutions that can positively impact the lives of individuals and the health of our wider community. From Novo Nordisk's side, Manvendra Singh, General Manager Novo Nordisk Qatar said: 'At Novo Nordisk, we are proud to bring over 100 years of global leadership in chronic disease management and 25 years of dedicated obesity research to Qatar. The availability of Wegovy marks a significant step in addressing obesity as a serious, chronic disease. As Qatar continues to face high rates of obesity, diabetes, and cardiovascular disease, our collaboration with Ebn Sina is vital. Together, we are committed to strengthening the healthcare landscape and improving patient outcomes through innovative, science-driven solutions.' Ebn Sina Medical General Manager Essam Faragalla added: 'At Ebn Sina Medical, we are committed to ensuring that the people of Qatar have access to world-class healthcare solutions. This partnership with Novo Nordisk marks a significant milestone in our journey to address the rising prevalence of obesity and related health complications in the country. We enjoy a long-standing relationship with Novo Nordisk and share a unified vision to prioritize patient-centric care. The introduction of Wegovy reflects our continuous drive to deliver innovative treatments and reinforces our role as a trusted healthcare partner aligned with Qatar's National Health Strategy.'
