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Sparks commentary - Aamal Company

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Sparks - Aamal Company

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Aamal Company (QSE: AHCS) – QAR478.4m purchase of Golden (Aamal) Tower in Doha
Published by Harry Kilby

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.

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