Qatar Oman Investment Company discloses the completion of an agreement to execute the purchase and exchange of shares in Muzn Oman Commercial Company and the National Real Estate Development and Investment Company, between Qatar Oman Investment Company, and the Oman Ministry of Defense Pension Fund and the National Real Estate Development and Investment Company  .

Muzn Oman Commercial Company is a closed -stock company established in 2015 in Muscat, Oman. It includes a shopping mall, a three-star hotel, and a variety of shops, restaurants, and entertainment venues. Qatar Oman Investment Company owned 20% of the company at its inception.

National Real Estate Development and Investment Company is a closed company established in late 2008 by a group of major shareholders in Oman and the Gulf Cooperation Council . Qatar Oman Investment Company owned 5% of the company.

Under the agreement, Qatar Oman Investment Company purchased the National Real Estate Development and Investment Company shares at the book value as of December 31, 2022, for a total value of OR 764,000. As a result, Qatar Oman Investment Company shares increased from 18.84% to 37.68%.

Qatar Oman Investment Company exchanged its entire share in Muzn Oman Commercial Company (37.68%) with Oman Ministry of Defense Pension Fund’s share in National Real Estate Development and Investment Company (10%). As a result, Qatar Oman Investment Company share in National Real Estate Development and Investment Company increased to 15%.

This step is part of Qatar Oman Investment Company strategic investment plan to exit projects with low returns or high risks in order to strengthen the company’s assets, protect investors, and ensure the highest standards of transparency and fairness in the disclosure.

Summary:

  • Qatar Oman Investment Company is exiting  from Muzn Oman Commercial Company by purchasing a share in the National Real Estate Development and Investment Company
  • Qatar Oman Investment Company exchanged its Share in Muzn Oman Commercial Company with the share of the Oman Ministry of Defense Pension Fund in the National Real Estate Development and Investment Company, increasing the share of Qatar Oman Investment Company in the National Real Estate Development and Investment Company from 5% to 15% .