Ezdan net profit QR 345 mln in 2011

Ezdan Real Estate Company disclosed the financial statements for the year ended December 31, 2011. The financials revealed a net profit of QR 345 Million in 2011 versus QR 121 Million in 2010, the company said in a statement issued by (Qatar Exchange) website. The company's earnings per share (EPS) in 2011 amounted to QR 0.13 versus QR 0.05 in 2010. The Board of Directors is pleased to include within the agenda of esteemed assembly a recommendation a cash dividend distribution of %1.5 of the value of the paid-up nominal capital. Originally known as Thani Bin Abdullah Housing Group, the company became a limited liability company in 1993 which it in an excellent position to take advantage of the new opportunities developing in Qatar. In 2006 the Group's real estate investments were transferred to a new entity known as the Iskan Real Estate Company. In 2006, its name was changed to Ezdan Real Estate Company and it became a Qatari shareholding company, launching on the Qatar Exchange in 2008.