Al Khalij Commercial Bank (al khaliji) Q.S.C. has inked a deal to finance the Alfardan Properties’ up and coming Kempinski Marsa Malaz Hotel Resort, with a total investment cost of almost QR 1 Billion. Alfardan Properties, one of the companies under Alfardan Group umbrella, is renowned for luxury turnkey residential and commercial developments in addition to 5-star hospitality projects such as Kempinski Residences and Suites.
Commenting on the deal, Robin McCall, al khaliji’s Group Chief Executive Officer said:
“As the country looks to the future, and continues with its economic growth, companies such as Al Fardan Group Holding will be at the forefront of Qatar’s development. We are therefore privileged to be associated with one of the most ambitious hospitality projects in Qatar – the Kempinski Marza Malaz Hotel Resort. ” McCall further added, “In al khaliji, we have set about growing a next generation bank as we aspire to become one of the most highly rated and well-respected banks in Qatar. This milestone agreement is a confirmation that al khaliji is a reliable business partner and a strong source of financing for development projects in all sectors in the country.”
Omar Hussain Alfardan, President and CEO of Alfardan Properties and Alfardan Group, commented:
“The Kempinski Marsa Malaz Hotel Resort clearly reflects our vision to provide iconic luxury developments focused on superlative hospitality service to Qatar and the region. This uniquely themed hotel resort which we foresee to become a popular destination for international guests visiting Qatar, will truly display the luxury, authenticity and excellence Alfardan Properties is known for. Our partnership with al khaliji is a key strategic move thus, supporting our commitment to join hands with establishments that share our aspiration in developing the country with mega hospitality and tourism developments in line with vision of H.H. the Emir Sheikh Hamad Bin Khalifa Al Thani and Heir Apparent H.H. Sheikh Tamim Bin Hamad Al Thani. We are therefore proud to join hands with al khaliji, who share our vision of provision as we continue to consolidate our market presence and develop projects that reflect Qatar’s growing status as a distinctively unique haven for luxury hospitality.”
K.C. Dalal, Deputy CEO of Alfardan Group, said: “Alfardan Properties’ strong alliances and solid track record within the banking community have been important factors that have given us greater flexibility to develop some of the most innovative and luxurious hospitality projects in Qatar. Moreover, we are strongly committed to partner with institutions that add value to our projects and to the Alfardan Properties portfolio. The invaluable support of al khaliji Bank therefore plays an instrumental role for the success of such developments done by Alfardan Properties; especially that the company has plans on expanding with newer and bigger luxurious developments in Qatar and neighboring countries in the region.
Awarded an ‘A-‘ credit rating by international rating firm Fitch in 2011 and reaffirmed in 2012, al khaliji has the capabilities and expertise to provide the right financing solutions. As a pioneering Qatari financial institution, al khaliji understands the requirements of its preferred clients and provides them with the financial assistance through a group of banking professionals who are able to support and service their clients’ needs through their personalized service, partnership approach, swift approvals, and simple procedures.
al khaliji recognizes that every company is unique and its customized banking solutions help its clients to make the best of every opportunity for their businesses.
For more information about al khaliji, please visit www.alkhaliji.com.
Contacts
Abeer Al Kalla
Head of PR and Communications
Corporate Affairs
al khaliji
Tel.: +974 4494 0646
www.alkhaliji.com
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