Qatari Diar Real Estate Investment Company and Saudi Binladen Group (SBG) have signed a shareholders’ agreement to establish the QD-SBG Group — a joint venture with an equal partnership between Qatari Diar and SBG.
The new venture will establish two special-purpose companies in Qatar, a construction company and an industrialservices company to enhance Qatars construction and industrial sectors, reported Gulf News newspaper.
During the signing of the agreement — which marks Saudi Binladen Groups first business venture in Qatar — two more agreements were signed between QD-SBG, Qatari Diar and SGB, and Barwa Real Estate Company QSC and The First Investor Company QSCC (TFI); the largest closed shareholding Qatari investment banking firm in Qatar, to establish the two specialised construction and industrial services companies.