08-02-2021
Qatar First Bank has completed the acquisition of Waterway Plaza 1, a luxurious first-class office tower of more than 223,000 square feet located in the suburbs of Houston, Texas, in the United States of America. The deal, the first of its kind this year in the United States, comes a few days after Qatar First Bank acquired the Lulu Al-Messila hypermarket in Qatar. Through its income-generating real estate investment portfolio, the bank has succeeded in attracting significant financial commitments from the bank's trusted customer base, and the investment will remain open for subscription until March.
Waterway Plaza 1 is a first-class building, with a charming design and a privileged location in the Woodlands, one of the most important suburbs of Houston. Due to its unique architectural design, Waterway Plaza 1 won the "Building of the Year" award for best mid-rise suburban office complex.
The glass façade of the nine-storey building offers a magnificent panoramic view of the Woodlands Town Center and its penthouse, with a full-glass façade of the building overlooking the canal, the Woodlands, the Waterway and its beautiful tree surroundings. This Property is the global headquarters of Huntsman International, a multinational manufacturer specializing in the manufacture of chemical products and a Fortune 500 company.
Huntsman has operated the Waterway Plaza property since 2004 and has been continuously maintaining and improving it since then. The Huntsman Corporation is one of the leading companies in the US market in the field of manufacturing products and high-performance adhesives similar to their counterparts such as BMW, Procter & Gambler and Unilever.
On the occasion of this event, His Excellency Sheikh Faisal bin Thani Al Thani, Chairman of the Board of Directors of Qatar First Bank, said: “I am happy to see QFB’s offering getting some traction. In 2020 we planted the seeds of the turn-around strategy. It was a test year for the bank and I think we succeeded. In 2021 it’s time to be more proactive. It’s time for QFB to accelerate a bit, and to present more opportunities to the market.”
Qatar First Bank continues to select the best income-generating investments to offer its trusted clients global opportunities usually only accessible to major institutional investors. These investments are available through a Sharia-compliant platform.
Commenting on the acquisition, the CEO of Qatar First Bank, Mr. Abdulrahman Totonji, said: “Another acquisition and another success is being recorded for the bank and its customers. We were able to attract a large part of the financial investments for the offer just by talking to customers, and that is only within few days of this new year and before we officially announce it in the market. We are working around the clock to ensure the best investments in Qatar and we are now reaping what we planted. We also take our commitment to our customers very seriously and we have a vision and the bank is using all its energies to achieve it. "
This investment opportunity is offered on a private placement basis to "eligible investors" who meet the investment eligibility requirements in accordance with the rules and regulatory requirements of the Qatar Financial Center Regulatory Authority.