Eshraq Properties appoints Alseddiqi as new chairman

26/07/2016 05:42 AST

Eshraq Properties has appointed Jassim Alseddiqi as the chairman of the ADX-listed developer. Mr Alseddiqi, also the managing director and chief executive of Abu Dhabi Financial Group, had already been serving as a board member of Eshraq.

He "will focus on energising the company’s operations to be a leading provider of premium real estate in the UAE and in creating long-term value for its stakeholders", the company said.

Eshraq, whose projects include residences on Al Reem Island in the capital, reported a loss of Dh1 million for the first quarter of this year, compared to Dh7m in losses in the same period a year earlier. It is yet to report second-quarter earnings.

Mr Alseddiqi said that Eshraq has tremendous potential in terms of redefining the property and hospitality sector.

"We will evaluate new investment opportunities and strategic partnerships that will build our portfolio and footprint. On the financial side, we are committed to optimising resource use, and to achieve long-term profitability for our stakeholders," he said.

Eshraq shares closed up 1.3 per cent and are up more than 36 per cent year-to-date.


The National

News

Eshraq Properties swings to profit in 2017

16/02/2018

Eshraq Properties reported a net profit of Dh32.2 million last year compared to a net loss of Dh301 million in 2016.

The company which is involved in the development of various projects in

Gulf News

Eshraq Properties to acquire Reem by year-end

17/09/2017

The deal for Abu Dhabi-based Eshraq Properties to acquire Reem Investment is expected to be finalised in the next three months and will more than double Eshraq’s market capitalisation when complete.<

Gulfnews

Abu Dhabi developers Eshraq Properties and Reem Investments in advance

31/08/2017

Abu Dhabi developers Eshraq Properties and Reem Investments on Wednesday said they were in advanced stages of merger talks to create the second-largest listed developer in the emirate.

The d

Arab News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683

Valuation

ESHRAQ Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
ERES 10.25 -0.28 (-2.66%)
BRES 33.56 -0.64 (-1.88%)
MABANEE 700.00 -13.00 (-1.83%)
UDCD 14.70 -0.10 (-0.68%)
SRE 325.00 -15.00 (-4.42%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap