Latest news with #EstithmarHolding
Zawya
20-05-2025
- Business
- Zawya
Doha to ‘intensify' development of local currency debt: GCMA
Doha may 'intensify' the development of its local-currency debt market, which is currently going through an 'exciting' phase in view of the robust macroeconomic fundamentals and sovereign support, according to the Gulf Capital Market Association (GCMA). The local capital market regulator (Qatar Financial Markets Authority or QFMA) is committed to the sustainable sector and has increased the clarity around the issuance and listing of debt, Michael Grifferty, President, GCMA said in the Qatar Financial Centre's latest Islamic Finance report. The local currency market has begun to gain traction as it saw its first issuance by a publicly listed company in 2024, he highlighted. Estithmar Holding had last year issued a QR500mn sukuk, marking the first corporate issuance denominated in Qatari riyal, under its QR3.4bn programme. The three-year sukuk, maturing in September 2027, offers an 8.75% coupon and drew interest from government and non-government investors, including banks, insurers, asset managers and family offices. 'There is a possibility that Qatar may intensify the development of its nascent state local-currency programme,' Grifferty said. Terming Qatar's debt capital market as an 'exciting' work in progress, he said 'we have already seen an increase in the diversity of issuers and structures, many in sukuk format and increasingly for sustainable uses.' The state led in this regard by issuing a green bond in a benchmark size, and was the first regional sovereign to do so. In 2024, Qatar set a regional benchmark by issuing $2.5bn in green bonds to fund environment friendly projects, marking a new era for sustainable finance. The bonds are divided into two tranches: a $1bn tranche with a five-year maturity priced at 30 basis points spread over the US treasuries and a $1.5bn tranche with a 10-year maturity priced at 40 basis point spread over US treasuries. 'Banks have added labelled ESG (environment, social and governance) bonds and sukuk to their active issuance programmes,' Grifferty said. The Qatar Central Bank (QCB) is certainly behind this trend, having published its ESG and Sustainability Strategy for the Financial Sector in 2024, he said. 'This is having results, as almost 20% of the debt capital market is being issued for ESG purposes,' he said, quoting an international credit rating agency Fitch. Qatar's domestic markets have been buoyed by a robust economy underpinned by supportive public spending and the authorities' commitment to invest in economic transformation. 'Adding in a well-capitalised banking system and regulatory developments, the case for the Qatar market has only strengthened,' he said. Regulators for their part are laying the foundation for more active debt and equity markets with further market liberalisation, including by easing listing requirements and providing greater clarity about the path to issuance of both debt and equity instruments, according to him. Rounding out the ecosystem are the recent establishment of a ventures exchange, and the completion of a groundwork for listed derivatives to allow trading of futures and options, he said, adding 'we have also begun to see some activity in securities borrowing and lending (SBL). © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Qatar Tribune
15-05-2025
- Business
- Qatar Tribune
QSE marks fifth consecutive weekly gain as index hits multi-month high
Satyendra Pathak Doha The Qatar Stock Exchange (QSE) extended its winning streak for the fifth consecutive week, with the benchmark index gaining 54.55 points, or 0.5 percent, to close at 10,574.59 — its highest levelsince February 16. The continued uptrend reflects growing investor confidence, improved liquidity, and easing global trade tensions. According to a report by QNB Financial Services (QNBFS), QSE's market capitalisation also rose by 1.0 percent to QR624.6 billion, up from QR618.6 billion at the end of the previous trading week. Out of the 53 listed companies, 35 ended the week higher, 16 declined, and two remained unchanged. Estithmar Holding (IGRD) was the top performer of the week, surging 10.1 percent, while Qatar Cinema & Film Distribution Company (QCFS) recorded the steepest loss at 9.4 percent. Leading contributors to the index's rise were QNB Group (QNB), Industries Qatar (IQ), and Qatar Electricity and Water Company (QEWC). QNB added 28.32 points, IQ contributed 16.35 points, and QEWC added another 9.44 points to the index. Trading activity surged across the board. The total traded value rose by 19.6 percent to QR2,343.7 million, up from QR1,959.7 million in the previous week. Estithmar Holding topped the value charts with QR205.8 million in trades. Traded volume also jumped 19.9 percent to 1,085.3 million shares compared to 905.4 million shares a week earlier. Baladna led in volume with 139 million shares exchanged. The number of transactions increased by 8.9 percent to 96,142, signaling heightened investor participation. Foreign institutions remained bullish, ending the week with net buying of QR199.3 million versus QR177.1 million the week before. Qatari institutions, however, maintained a bearish stance, with net selling of QR53.1 million, an improvement from the QR133.4 million in net selling recorded in the previous week. Foreign retail investors posted net selling of QR36.8 million, while Qatari retail investors offloaded shares worth QR109.4 million. Year-to-date, global foreign institutions are net sellers of Qatari equities by $166 million, while GCC institutions are net short by $69.3 million. Speaking to Qatar News Agency (QNA), Ramzi Qasmieh, Investment Manager at Qatar Securities Company, noted that the index's strong close marked its best performance since mid-February. 'The insurance sector led gains with a 3.12 percent rise, followed by the industrial sector, which climbed 1.86 percent. However, the transportation sector fell by 1.36 percent,' Qasmieh said. He highlighted that speculative activity fueled improved liquidity, with the weekly traded value increasing by nearly QR385 million. Looking ahead, market analysts believe the QSE may continue to benefit from improving global sentiment, easing inflation concerns, and strong quarterly results from key companies. However, they caution that continued net selling by Qatari retail investors and volatility in global markets could create intermittent headwinds. Investor focus in the coming week is expected to remain on stock-specific action, particularly in companies with solid earnings outlooks or those likely to benefit from sectoral momentum, such as insurance and industrials.
Qatar Tribune
13-05-2025
- Health
- Qatar Tribune
Apex Health Celebrates International Nurses Day Across All Its Hospitals
On International Nurses Day, Apex Health, a subsidiary of Estithmar Holding, joined the international celebration under this year's theme: 'Our Nurses. Our Future. Caring for nurses strengthens economies.' Across its hospitals in Qatar, Iraq, Libya, the organization celebrate the nurses who form the foundation of every patient journey, those who show up every day not just with clinical skill, but with empathy, resilience, and patient care. 'Nurses play a pillar role in the success, strength and patient journey at every hospital,' said Jose ph Hazel, CEO of Apex Health. 'They're often the first point of contact for patients and the steady presence throughout their care journey. At Apex Health, we recognize that our nurses are key to delivering safe, consistent, and trusted care. That's why we invest in their growth, listen to their insights, and we make it a priority to ensure they know their work is seen, valued, and deeply appreciated.' The day was filled with meaningful moments across Apex Health's network, in Qatar, Iraq, Libya. Each hospital marking the occasion in its own way. At The View Hospital in Qatar, the focus was on leadership in nursing and how it shapes a culture of excellence. The Korean Medical Center joined in with heartfelt staff recognition moments, while in Iraq, both Al Nasiriya Teaching hospital and Al Imam Al Hassan Al Mujtaba hospital held full-day events filled with workshops, team building, and peer appreciation. In Libya, the Misrata Heart & Cardiovascular Center highlighted the unique role of cardiac nurses through forums and wellness activities — all celebrating the people at the heart of care. And because recognition matters, Apex Health has embraced the DAISY Award for Extraordinary Nurses. This program honors nurses who go above and beyond in delivering compassionate, skillful, and patient-centered care. By spotlighting individual stories of impact and dedication, the DAISY Award serves as a powerful reminder of the human side of healthcare — and the profound difference a single nurse can make in a patient's life. Apex Health continues to grow across the region, one thing remains constant, strong nursing teams are essential to delivering meaningful, sustainable care. That's why the company continues to invest in their development through training, recognition, and support systems that help them lead with confidence. International Nurses Day is a moment to empower nurses, because the future of healthcare depends on the people delivering it every day. About Apex Health Your Trusted Healthcare Partner. Apex Health, a distinguished subsidiary of Estithmar Holding, proudly stands as a vanguard of healthcare leadership in Qatar. Built on the pillars of compassion and global excellence, the company is resolute in its mission to deliver unparalleled patient-centric experiences, empowering individuals to lead healthier and more fulfilling lives. Apex Health currently manages and develops a substantial healthcare portfolio that includes 9 hospitals operating in 4 countries and 13 projects. Apex Health is dedicated to developing and operating healthcare facilities that deliver exceptional patient care through international standards, world-class medical expertise, and cutting-edge technologies. As part of its strategic expansion, Apex Health is on track to exceed more than 5,000 operational beds by 2026, reinforcing its position as one of the region's largest and most ambitious healthcare networks. Through strategic public-private partnerships in the region, Apex Health contributes to shaping the future of local health systems. With a vision to be the leading, sustainable, and trusted healthcare partner, Apex Health works with world-class medical partners across its facilities. It applies international standards in healthcare innovations and cutting-edge technology.
Al Bawaba
23-04-2025
- Business
- Al Bawaba
Rixos Founder and Chairman Visits Baghdad
In a significant gesture reflecting Rixos' growing interest in the Iraqi market, Mr. Fettah Tamince, Founder and Chairman of the prestigious global hospitality Rixos Brand, arrived in Baghdad on Thursday, April 17, 2025. His visit marks a milestone in the city's growth plan, driven by the objective of becoming a leading worldwide tourist destination. Mr. Tamince inspected progress at the landmark Rixos Baghdad Hotel & Residences, a high-profile development by Estithmar Holding, a Qatari Listed company, in the heart of the Green Zone. Set to become the first Rixos-branded five-star destination in the Iraqi capital, this unique project reflects Baghdad's rebirth as a cultural and economic gateway to the world. The visit coincides with accelerated development efforts by both public and private sectors in Iraq, aimed at modernising infrastructure and attracting investment. As part of Rixos broader global expansion strategy, the Baghdad project joins an impressive portfolio of iconic properties in Istanbul, Antalya, Dubai, Jeddah, Montenegro, and Sharm El Sheikh. Rixos' entry into Iraq signals a long-term commitment to tapping into new, high-potential markets and places Baghdad firmly on the global tourism radar. Estithmar Holding – a leading Qatari listed Company – is developing this project through its subsidiary 'Estithmar Properties' in Iraq. This initiative is expected to drive substantial impact across Iraq's construction, supply, and service sectors, creating valuable job opportunities for Iraqi professionals during both the construction and operational phases. Its long-term contribution includes supporting the evolution of Iraq's tourism infrastructure and promoting local expertise with tangible and positive impact on the national economy. Poised to open soon, Rixos Baghdad Hotel & Residences promises to deliver a unique blend of authentic Iraqi culture and international luxury. With its meticulous attention to detail and unwavering commitment to excellence, the development is expected to transform the hospitality scene in Iraq, offering residents and visitors an experience that reflects Baghdad's rich heritage and promising future. Rixos Baghdad project includes 322 refined hotel rooms,159 upscale residences, 9 exceptional hotel villas, 6 signature restaurants, a world-class wellness centre, and dedicated facilities for padel and tennis. This unparalleled offering will redefine the standard of living in Baghdad, introducing a new chapter in the city's journey toward modernity, prestige, and global acclaim.
Arab News
22-04-2025
- Business
- Arab News
Estithmar Holding Q1 profit rises 50% to $46.7m
Estithmar Holding Q.P.S.C. announced a net profit of 170 million Qatari riyals ($46.7 million) for Q1 2025, reflecting a significant 50 percent increase compared to the same period last year. The company highlighted a 64 percent surge in revenue, reaching 1.3 billion Qatari riyals compared to 797 million Qatari riyals in Q1 2024. The gross profit rose to 416 million Qatari riyals, from 196 million Qatari riyals in Q1 2024. The EBITDA reached 273 million Qatari riyals, marking a 53 percent increase. The earnings per share also grew by 57 percent, reaching 0.047 Qatari riyals. These strong financial indicators reflect the effectiveness of Estithmar Holding's investment strategy, driven by continued growth across investment diversification, geographical expansion, and operational efficiency. International projects previously announced by Estithmar Holding started to have a tangible impact on its financial performance in revenue, profits and assets. The results also reflect the achievement of one of the strategic objectives: a balanced contribution to profits and revenues from all four clusters — healthcare, services, tourism and real estate development, and contracting and industries — highlighting the clusters' ability to pursue developmental and expansion plans under the company's strategic vision. The rise in net profit stems from Estithmar Holding's effective capital management and operational efficiency, aimed at delivering strong financial results and sustainable profitability while effectively managing risks. The healthcare cluster posted significant growth in Q1 2025 driven by the cluster's hospitals outside Qatar which contributed to revenue as new income streams, including Imam Al-Hassan Al-Mujtaba Hospital in Karbala, Al-Nasiriyah Teaching Hospital in Dhi Qar, Iraq, and Misrata Heart and Vascular Center in Libya. Moreover, the growing number of hospitals outside Qatar in Iraq, Algeria and Libya reflects the confidence that governments across the MENA region have placed in the quality of services provided by Apex Health, the healthcare subsidiary of Estithmar Holding. The services cluster maintained market leadership in Qatar, especially in facilities management and catering. Expansion into Saudi Arabia, Jordan and Iraq also significantly contributed to the cluster's profitability and the development of new income streams. These achievements reflect Estithmar's growing role in supporting national strategies, operational excellence, tailored solutions, and long-standing client partnerships, which has positioned it as a trusted partner in both public and private sectors. As the region continues to prioritize quality service provision and sustainability, Estithmar is uniquely placed to meet rising expectations and scale its offerings to match demand. The tourism and real estate development cluster stayed on track with project delivery, including Rixos Baghdad (Iraq) and Rosewood Maldives Resort, driving a 600-million-Qatari-riyal increase in company assets in Q1 2025. Additionally, enhanced efficiency boosted profitability in existing projects such as Lusail Winter Wonderland and Al-Maha Island. The cluster introduced a new operating model applied in flagship projects like Katara Hills, Maysan LXR Doha, and Al-Maha Island, contributing to profit stability. The contracting and industries cluster also made a notable contribution to revenue and profit growth, especially at the peak phase of project deliveries in Saudi Arabia, including major projects such as the Red Sea Airport and the Yacht Club. The cluster also secured new projects with the Kingdom's PIF companies and improved local operational efficiency, enhancing profitability in Qatar. These achievements reinforce the cluster's position as a key player in regional infrastructure development, delivering large-scale projects with precision and consistency. Overall, Estithmar Holding's Q1 2025 results highlight sustained growth aligned with its strategy to increase shareholder value in the short and long terms. This performance reflects the company's ability to execute with discipline, adapt to market shifts, and maintain a forward-looking approach that supports continuous innovation, regional expansion, and strategic partnerships across its core business clusters. Commenting on the results, Group CEO Juan Leon said: 'The exceptional rise in all financial indicators reflects the dedication of Estithmar's team, and I look forward to working closely with them to build on Estithmar Holding's growth story in Qatar and abroad. Estithmar Holding has demonstrated the ability to deliver sustained, diversified growth — both vertically and horizontally — paving the way for further expansion as investor confidence strengthens and our footprint continues to grow both locally and internationally, supported by a bold vision and strategic execution.' For more information, visit
