Sparks - Aamal Company

On 15 July, Aamal Company announced that through its subsidiary, Aamal Real Estate, it has entered into an agreement to purchase Golden (Aamal) Tower, located in the high-demand area of Onaiza, Doha, for a total price of QAR478.4m. The Golden Tower is a prominent. 32-floor, mixed-use property, with 33 commercial offices units and 72 residential apartments. It currently has an 88% occupancy rate.

The purchase aligns with Aamal’s strategic vision of expanding its recurring income and management. Based on current occupancy rates, it expects the property to generate c QAR20m in annual rental income, with projected growth of 3–5% per year. The purchase will be fully financed through a bank facility under Aamal Company. The investment will also yield multiple synergies for Aamal, enabling it to centralise several group subsidiaries under one roof, reducing third-party rental dependence and creating long-term cost efficiencies.