Skip to content Skip to Search
Skip navigation

Qatar First Bank acquires office tower in the US

By Pramod Kumar
Office Building, Building, High Rise Creative Commons
The Gateway Plaza building is described as a Class AA trophy asset with an area of 330,000 square feet, the bank said in a press statement

Qatar First Bank has acquired a building in Richmond, Virginia, the lender’s eleventh real estate investment deal in the United States.

The Gateway Plaza building is described as a Class AA trophy asset with an area of 330,000 square feet, the bank said in a press statement.

Build in 2015, the building is a multi-tenant office property with views of downtown Richmond and the James River. It is currently 98 percent occupied.

Sheikh Faisal bin Thani Al-Thani, Chairman of QFB said: “We are delighted to announce the successful acquisition of our eleventh Shariah compliant US real estate investment. QFB has successfully negotiated and acquired the property in this challenging interest rate climate. We have achieved this landmark accomplishment whilst ensuring that the property is acquired at a price which can generate attractive returns for our investors.”

Qatar First Bank is an independent Shariah-compliant bank and listed on the Qatar Stock Exchange.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]