Friday 5 June 2009

Qatar developer eyes funds for billion-dollar deals

Ezdan Real Estate Co, Qatar's largest developer by market value, said on Thursday it planned to sell some of its real estate portfolio as it seeks to raise funds for billion-dollar projects in the next five years.

Ezdan's deputy chief executive officer, Samer Wahbeh, said the company, which complies with Islamic law, would build schools, hotels, residential units and hospitals in Qatar, the world's biggest exporter of liquefied natural gas.

"We are still quite bullish about the market and have an aggressive expansion plan and we need to fuel this growth for the company," Wahbeh said.

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