Mazaya Qatar Submits Preliminary Offer to Buy Property in Istanbul

Doha, May 26 (QNA) - Mazaya Qatar announced providing of an initial non-binding offer to purchase a real estate asset for redevelopment in Istanbul Turkey. This offer came in line with the vision of the company to diversify the geographical presence and income source, the company said in a statement published on (Qatar Exchange) website. Mazaya Qatar is a Qatari Public Shareholding Company of National and Gulf investors, established on 10 January 2008 with a capital of QR 1 billion, of which QR 500 million was paid, divided into 50 million shares. It was established under Article No.68 of the Law No. 5 of 2002 concerning the issuance of commercial companies, and according to the terms and conditions of the Memorandum of Association of the company and its Articles of Association. The Qatar Stock Exchange announced its readiness for trading the company's shares on the 11 October 2010, after the completion of the administrative and technical procedures necessary for the company's inclusion and circulation. The company was subsequently listed on the 17 of October that year. (QNA)